Lack of investment in marketing is causing disappointing sales of stakeholder pensions according to research from the Financial Services Forum.
In April the FS Forum contacted 70 of its members, who are senior marketers in the financial sector, to gauge their attitude to the marketing of stakeholder. The initiative generated a 33 per cent response.
The survey found of those offering stakeholder no-one was planning to commit more than 25 per cent of their marketing budget on promoting the products and most were spending less than 10 per cent.
Although it revealed high awareness of the Government's sheepdog pension ad campaign only a minority of those responding thought it was relevant to the target market. Just under half said it was irrelevant.