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Scottish Legal to sell Friends stakeholder

Friendly society Scottish Legal Life is taking advantage of the relaxation in the polarisation rules to add Friends Provident&#39s stakeholder plan to its product range.

Scottish Legal Life will market Friends&#39 New Generation stakeholder to its customers and is starting an ad campaign using the strength of Friends&#39 name to attract new business.

The society plans to specifically target businesses with five to 30 employees in a move it says complements Friends&#39 presence in the business sector.

The deal follows an earlier link-up between Scottish Legal Life and HSA, which allows the friendly society to sell HSA&#39s line of healthcare products.

Friends&#39 stakeholder provides employees with a personal retirement account managed by investment specialist Friends Ivory & Sime, in which Friends is a majority shareholder.

Scottish Legal Life chief executive James Bawa says: “We are delighted to have added the Friends Provident stakeholder pension to our expanding product portfolio. It is one of the leading pension providers and through our partnership we can offer this scheme to our existing members and attract new range of customers.

Friends Provident managing director retail operations Ben Gunn says: “Our focus is to continue to offer our pension expertise to employers and affinity groups.”

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