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Structured plans offering growth and protection

Legal & General and Scottish Life International are both launching structured products that aim to protect initial capital and give investors potential market upside.

L&G&#39s index growth & protection plan 2 guarantees full capital protection and gives 100 per cent of any capital growth in the FTSE 100 index over the fixed term of five and a half years. The capital protection guarantee is lost if funds are withdrawn before the end of the term. Minimum investment is £500. Commission is 3 per cent.

SLI&#39s safe combination bond invests in a mix of tax-efficient insurance funds which provide between 95 per cent and 100 per cent capital protection every three months.

A profit rate is calculated at the beginning of each quarter, indicating the proportion of any growth in the UK FTSE 100 from which the investor will benefit during the three-month period. Minimum investment is £15,000.

L&G retail marketing director Claire Stracey says: “Investors have the comfort of knowing their capital is protected and yet benefit from the growth in the FTSE 100 index when this investment matures.”

SLI head of corporate communications Douglas Law says: “With our UK safe combination bond, there is no fixed term and investors have access to their investment every three months if their circumstances change.”


FSA castigates basic errors by brokers

The FSA says simple errors by firms completing application forms for authorisation to continue writing mortgage and general insurance business are causing delays. To deal with the problem, which is slowing down the regulator&#39s processing of the 5,000 applications received to date, the FSA is posting on its website a list of the most common […]

PAA cuts cost of term leads

The Professional Advisor Alliance is cutting the cost of the term insurance leads it sells to intermediaries. The PAA will cut leads by 30 per cent to £35 from £50. The company says the move has been prompted by an increase in the number of leads it is getting from financial services website Moneysupermarket […]

SVM adds extra commission on funds

SVM Asset Management has extended its commission for IFAs from 3 per cent to 5 per cent until September 30. Advisers will have the choice to either discount the initial charge to their clients or retain the commission. The increased commission within the SVM UK opportunities fund and its continental Europe fund is available to […]

Debate highlighted misunderstanding of with-profits

It was good to read your lively debate on with-profits (Money Marketing, April 15) but it strikes me that most of the people on the panel would not know with-profits if it jumped up and bit them on the nose although at least Prudential gave a good account of itself. I conclude that the only […]


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