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Standard would accept business fall as it bides its time on distribution

Standard Life says it would rather take a dip in new business than rush into hasty decisions on distribution following depolarisation.

Director of corporate affairs Gordon Arthur says there is no risk in its “wait and see” approach and claims other companies are being premature in taking stakes in IFAs before they know the details of the rules after polarisation. Standard points out that it is being approached by many IFAs and is on the overwhelming majority of IFA panels.

Standard also believes that the big change for IFAs will not be multi-ties, which it claims would not substantially alter the daily load of an adviser, but the proposals for simplified advice. It believes these proposals could transform the structure of firms as well as the nature and speed of sales procedures.

Arthur says: “You do not have to be the first to lead the market, you have to do what is right for the business long term. We are not scared of a temporary dip in market share. We are confident that there will be distribution routes for our products, it is just that we cannot say what they are yet.”

Roberts Clark director Ashley Clark says: “Standard Life does not want to get into an auction. It appears that many IFAs are doing the same and will not do anything until the last minute. But we hear that providers who are approaching firms are being very choosy and attaching a lot of preconditions.”


Teather & Greenwood Investment Management – TGIM Ethical Fund

Friday, 14 June 2002 Type: Oeic Aim: Growth by investing in socially responsible UK equities Minimum investment: Lump sum £1,000, monthly £100 Investment split: 100% in socially responsible UK equities Isa link: Yes Pep transfers: Yes Charges: Initial 3%, annual 1.5% Special offer: No initial charge Offer period: Until July 8, 2002 Commission: Subject to […]

Toisa pledges to lock in index-linked return

Key Data is offering a new Tessa-only Isa fund with a lock-in which guarantees investors at least a 5 per cent annual return. The fund tracks the FTSE 100 and guarantees if the index grows by 25 per cent at any time during the five-year investment period, that growth will be locked in. If the […]

Invesco warning to review portfolios

Invesco Perpetual believes investors are not reviewing their portfolios often enough and says IFAs should encourage their clients to look again at their investments. It says too many people take out their Isa allowance at the last minute without taking into account how it fits in with their overall portfolio. The company believes that leaving […]

Two-thirds of brokers say don&#39t apply CP121 to loans

Two-thirds of brokers are against the FSA&#39s CP121 proposals being applied to mortgages and want a different regulatory regime from life, pensions and investment. A survey of 500 intermediaries last month by specialist lender Future Mortgages rev-eals that only 11 per cent are in favour of CP121 covering their business while 23 per cent are […]


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