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Standard Life tobuild protection against baggers

Standard Life is reviewing its regulations over the next few months in a

move which could help it stave off repeated attacks from carpetbaggers.

A review of the regulations could see a change to the current rules which

state that, for a special general meeting to be held, just 50 policyholding

members need to sign a request to the board, potentially opening the door

on demutualising resolutions.

The ease with which carpetbaggers can launch assaults is worrying some IFAs.

A Money Marketing straw poll showed that 89 per cent of IFAs believed

policyhol-ders have made the right decision in backing Standard&#39s


The possibility of addingto the hoops that aspiringcarpetbaggers have to

jump through to call for an SGM is likely to reassure policyholders who

expressed anger at the £10m-plus Standard spent to guarantee last

week&#39s vote.

Riach Independent Financial Advisers proprietor Bob Riach says: “How long

before the board is approached again? If a client was thinking about

Standard Life now, I will be firing the warning shots and raising a

question mark.”

Standard Life spokeswoman Siobhan Williams says: “We will be looking at

the lessons learnt from the vote including regulations and communication to

our members.”


Is stakeholder a new breakthrough?

Anyone who has sat through Steve Bee&#39s marvellously witty but eruditeconversations about pensions cannot fail to have spotted that this is anarea where no idea quite works out as originally intended.They may start with every intention of opening up the market in a new andexciting way to reach the unpensioned and offer new opportunities foreasier […]

Sun Bank in ad push to forge more IFA links

Sun Bank, a subsidiary of Sun Life Finance of Canada, is starting on ayear-long marketing campaign to raise its profile among IFAs.The aim is to increase sales of the bank&#39s range of flexible mortgage products.Currently, 25 per cent of Sun Bank&#39s mortgage sales come through IFAs.The campaign kicks off with a series of ads in […]

Chairman says stakeholder won&#39t work unless it&#39s made compulsory

Stakeholder pensions will not work unless the Government introducescompulsion, says M&E Network chairman Barry Kayes.He told the network&#39s national conference in Birmingham last week that thetarget audience of low to middle earners will not be persuaded to take outa stakeholder scheme unless they are forced to do so by the Government.Kayes said he believed advice […]

Consumers&#39 Group applauds NatWest

The Consumers&#39 Association is applauding the decision by Natwest to drop direct charges on their cash machines. The high street bank announced last week that they will not charge non-members fees for using their machines. They also say customers will not have disloyalty fees levied against them for using other bank&#39s cash machines. NatWest&#39s decision […]


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