View more on these topics

Splitting policies on Tep market

IFAs can raise more money for divorcing couples by selling their endowment policies on the open market, says traded endowment provider Absolute Assigned Policies.

The market-maker says divorce accounts for 14 per cent of all policies sold.

IFAs should be aware that if clients sell their policies to market makers they are likely to receive over a third more than they would if they sim-ply surrendered their policyto life offices.

AAP says around 150 with-profits endowment policyholders a week could be miss- ing out.

Managing director Lee Portnoi says: “If IFAs are called upon to look at the assets of either partner if a couple are breaking up, they should be aware that clients with-profits endowment contracts could be worth as much as 35 per cent more if they sold to a market-maker rather than surrendering them toa life office.

“IFAs can also earn a fee of 3 per cent of the price that the market-maker pays to clients.”

Recommended

Don&#39t sweep supermarkets under carpet

IFAs may to tempted to dismiss the launch of pension supermarkets as a non-event. The feeling is that although consumers may venture on to the internet to find a pension, the vast array of information they will encounter is likely to push them straight back into the arms of an IFA. Yet it is important […]

Labour leadersbite the ballot

It was a Labour Party with its back against the wall that gathered in Brighton for its annual conference last week.They rolled out star after star exhorting the virtues of Labour and the evils of the Tories. The delegates showed their enthusiasm, giving frequent standing ovations.But it wasn&#39t all rosy. The Government refused to restore […]

Warland rejects unfair advantage claims over IPAs

Autif director general Philip Warland has slammed critics&#39 claims that individual pension accounts give investment houses an unfair advantage and add complexity to the market.Speaking at a conference in London, Warland said: “The insurance industry really cannot be serious about accusing the IPA of adding complexity when it has turned pension mystification into an art […]

Main takes up Widows post

Scottish Widows Investment Partnership has announced that Bill Main has taken up the role of Chief Executive Officer. The new CEO will be handling the corporate side of the business, developing and managing the recently merged company. He was previously Deputy Chief Executive of Scottish Widows Investment Partnership. Bill Main will be working alongside Sandy […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com