View more on these topics

SocGen targets wealthy clients

French banking giant Societe Generale is introducing an offshore life and pension brand aimed at UK high-net-worth clients to be sold exclusively through IFAs.

SG Life & Pensions will also offer access to a wealth management service with products from SocGen&#39s private bank, Hambros. It will launch with three investment bonds run through Guernsey and Luxemburg.

The SG Life International single-premium whole-of-life bond will be run through Guernsey, offering 94 funds from a range of internal external managers. It also has a choice of three managed portfolios with different risk gradings. Minimum investment is £50,000.

The Guernsey office will also run an international portfolio bond for investors looking for an actively managed fund on a discretionary basis. This has a minimum investment of £250,000.

The third launch product is from SocGen&#39s Luxemburg-based life company, Sogelife, and is aimed at middle-income investors. The global strategy bond offers a range of managed funds, money-market funds and guaranteed annual-interest funds.

Minimum investment is £10,000 and there is an initial charge of 5 per cent.

The venture has yet to offer a pension product but is looking at developing European models.

SG Life head of UK distribution John Hewinson says: “Investors have been sceptical of offshore products, believing they are expensive and complicated. But we have made the charges explicit.

“High-net-worth clients can really take advantage of the offshore tax breaks.”


FSA relaxes reserve rule

The FSA is throwing a lifeline to providers to stop them being forced into selling equities to meet statutory reserves. One of the FSA&#39s regulatory resilience tests which aims to ensure life offices have reserves to cover the possibility of a sharp stockmarket fall has been temporarily dropped. The FSA says the scenario the test […]

Fund firms reassuring investors over safety of zeros

Leading fund managers are fighting back against speculation that the split-capital investment trust industry is in danger of spiralling out of control. Last week, Framlington wrote to its IFA clients to reassure investors in its recently launched absolute growth fund, which invests in zero-dividend prefer- ence shares, that they should not be alarmed by negative […]

&#3986% missing out on net opportunities&#39

Financial services companies are not making the most of the internet, according to research from the Institute of Financial Services. At the Unisys global financial industry conference in Nice last week, the IFS revealed that 86 per cent of companies questioned in a survey had not made the most of online opportunities. It pointed particularly […]

Swiss Life appoints Hurd as personal finance director

Swiss Life has announced the appointment of Brian Hurd as director of its personal finance business unit. Hurd, who comes from Norwich Union, will be responsible for the development of the provider&#39s individual protection portfolio. Swiss Life says the appointment is a key hire in its drive to take the individual side of the company […]

Navigating volatility

The making of any fund can be seen in how it responds to crises and opportunities. In this short video, Head of Multi Asset at Royal London Asset Management Trevor Greetham outlines how the Royal London Global Multi Asset Portfolios or GMAPs navigated through Brexit and the US election cycle. He also highlights the importance […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm