View more on these topics

Stakeholder hits pension managers&#39 pay

Pension sales managers are the lowest-paid intermediary sales managers,

earning £12,000 a year less than their investment counterparts thanks

to stakeholder pensions.

Recruitment specialist Paul Harper Search & Select findings interviewed

136 intermediary salespeople in 22 companies for its Senior & Specialist

Intermediary Salary Survey May 2001.

It showed stakeholder has eroded margins on pension products and cut the

number of posts available.

The average basic salary for a pension sales manager is £34,423 and

total remuneration is £60,833 compared with £60,750 and

£72,940 for investment sales managers.

The demand for investment sales managers from investment houses expan-ding

their retail sales teams by cherrypicking sales staff from major life

offices has led to relatively high salaries.

But the report says: “It will be interesting to see how this changes in

the next year if the current stockmarket downturn continues.”

Another finding is that IFA managers earn about £62,400 in total and

have a basic salary of £51,200 while sales managers employed by

product providers earn £65,692 and have a basic salary of £43,423.

The survey says this difference stems from because bonuses forming a much

lower percentage of the IFA managers overall package.

Basic salaries start at £27,700 and reach £60,000. National

account consultants and broker consultants have the lowest basic in the

£26,000 to £30,000 range.



New analyst for Teather & Greenwood

Teather & Greenwood has recruited Stephen Waterman as pharmaceuticals andbiotechnology analyst, teaming with existing analyst Howard Miller.Waterman joins after three years with pharmaceutical database providerEvaluate Pharma, where he was senior pharmaceuticals and biotechnologyanalyst.

Review reports to be quarterly as small firms flag

IFA firms will have to make quarterly progress reports in the pensionreview bec-ause small advisers are having difficulty sticking to thetimetable. The announcement was made in the FSA&#39s annual report addressing concernsraised by the Financial Services Consumer Panel about IFAs&#39 progress onphase two. Small IFA firms represent only 5 per cent or 4,500 of the […]

Stake in the future

I want to save money for my grandchildren but I am concerned at therelatively poor returns from bank and building society accounts. Whatalternatives do I have? Investing some money is an extremely good way of giving a child a headstart in life. This investment can be in the form of a one-off lump sum orregular […]

Marsden looks at three-year fix

Marsden Building Society has brought in the three-year fixed rate mortgage.The mortgage has a fixed rate of 5.45 per cent until June 30, 2004 for loans of up to 80 per cent of valuation. Redemption penalties are 3 per cent in year one, 2 per cent in year two and 1 per cent in year […]


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