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Stakeholder suite to fail if no advice costs – IFA survey

The Government&#39s stakeholder proposals must contain provision for advice if they are to increase consumer demand, according to an overwhelming 96 per cent of IFAs.

A survey of 500 IFAs conducted by the exchange reveals 64 per cent of IFAs believe less than 10 per cent of consumers will be able to make investment decisions based on “guided self-help”, and a further 31 per cent believe this figure is between 10 per cent and 25 per cent.

The Exchange public relations manager Charlie Musson says: “Experience shows that consumers are largely apathetic and need the stimulus of an adviser to help them make decisions. The charge cap must take this into account.”

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FSA offers keynote view on credit risk

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Type: Guaranteed equity bond Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £10,000-£500,000 Term: Five years Guarantee: Original capital returned in full regardless of performance in index Return: 100% growth at end of term Closing date: September 23, 2003 Commission: None Tel: 0044148 1710 150

ABI draws up action plan for stakeholder

Eighty-two per cent of the 350,000 employer-sponsored stakeholder pensions are empty boxes and overall long-term saving is down by 17 per cent, says the ABI. Its figures show that just 4,550 or 13 per cent of workplace-based schemes have employer contributions. Since launch in April 2001, 1.5 million stakeholder pensions have been sold. Sales of […]

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By Fiona Tait, pensions specialist The chancellor’s announcement of proposed cuts to the Money Purchase Annual Allowance means it will be more important than ever to be able to tell your PCLS from your UFPLS What was in the statement? Not much. The chancellor spared three sentences to inform us that the Money Purchase Annual Allowance will be reduced […]

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