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Variable view runs a risk

Transact’s decision to rule out a variable annuity on its platform could push advisers to rivals, claims Threesixty.

Last week, Transact said the product holds little attraction as the beneficiaries are likely to be providers rather than clients. But Threesixty partner David Ingram says: “Transact may drive IFAs to a platform offering a full range of options.”

Transact head of marketing Malcolm Murray says: “We are not going to offer our own variable annuity but if a product is in a form suitable for holding on a platform and an adviser wants to hold it, we will try to accommodate it.”

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