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Standard mistrust

It is all very well for Standard Life to crow about their IFA salesforce being their jewel in the crown and how they have “invested heavily in it and our long-term relationship with IFAs” but what about what they have done to us on all the personal pensions of theirs that we sold back in the 1990s?

As far as I am concerned, this is treachery of the worst kind. No changes should have been made to policies already on our books without our permission having been sought first.

What such actions say to me in the loudest and clearest tones is that providers such as Standard Life are not to be trusted. They are happy enough to take our business today but tomorrow they will have no hesitation in moving the goalposts.

If that is Standard Life&#39s idea of investing heavily in their relationships with IFAs, then all I can say is that they&#39ve got it very badly wrong.

Julian Stevens WDS IFA, Bristol


Pink Home Loans – Royal Bank of Scotland Buy to Let: 1.5% Discount

Type: Discounted-rate buy-to-let mortgage Discounted term: Until April 1, 2006 Discount: 1.5% Payable rate: 4.34% Minimum loan: £50,000 Maximum loan: Up to 80% of valuation subject to a maximum of £500,000 Income multiples: Annual rental income must be at least 10% of the mortgage amount Arrangement fee: £295 Redemption fee: None Introducer&#39s fee: Loans up […]

Clerical Medical – Futureproof

Type: Cafeteria-style group pension plan combining group stakeholder, group personal pension, group money purchase and group additional voluntary contributions Minimum group size: 10Minimum-maximum ages:16-75 Minimum premium: £20 for stakeholder, otherwise £20 per member a month, £240 per member a year, £500 lump sum, £1,000 pension transfers Fund links: Clerical Medical Funds &#45 non-equity managed, cautious […]

Switch deal wins support

Standard Life is looking to offer with-profits policyholders the chance to switch between funds with high guarantees and charges to funds with lower guarantees and charges in a move welcomed by IFAs. Managing director of marketing Simon Douglas says the company is considering allowing policyholders to move into funds with higher equity exposure and lower […]

Investment fund sales fall but remain up on 2003, says IMA

New retail sales of investment funds fell in January but were still double those at the same time last year, according to the IMA. Its monthly statistics show that sales slid from £844m in December 2003 to £505m last month although this was still far in excess of January 2003, when sales were just £249m. […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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