View more on these topics

Widows reduces mvr after fund boost

Scottish Widows has halved its MVR to 5 per cent and average surrender values have risen by 10 per cent after good with-profits performance.

Widows’ with-profits fund posted growth of 10.4 per cent in 2004. Regular bonus rates on the flexible options bond growth fund remain at 5 per cent and for the income version range between 3.5-4.5 per cent, a fall from 4-4.75 per cent last year. Final bonuses for unitised with-profits life and pension policies remain broadly unchanged at 1 per cent.

Equity exposure on Widows’ with-profits fund has been raised from 38 per cent to 47 per cent and fixed-interest holdings cut from 41 to 36 per cent.

Actuarial director Adrian Eastwood says: “By consistently pursuing a prudent approach to bonuses, we have avoided any undue restriction on our investment freedom.”


How well qualified are adjudicators?

The FSA has extolled the values of holistic financial planning. It has dictated the need for high levels of qualification. It insists that key features documents are distributed with each recommendation and, of course, it has approved those key features documents as authentic consumer-orientated information sheets which enable customers to assess the products which they wish to buy.

Zurich’s Coulson gets senior sales role

Zurich Mortgage Network director Richard Coulson has accepted a key role within the Zurich Advice Network. Specific appointments have not yet been finalised but Coulson will be offered a significant senior role in the sales management team. His replacement is yet to be confirmed. ZAN will be rebranded as Openwork in the summer.

NU sets up guaranteed WP fund

Norwich Union is introducing a guaranteed version of its with-profits fund, which offers full capital protection after a five year term for an additional 0.5 per cent charge over its standard annual management charge.The guarantee is available from 7 February and this replaces a free five-year guarantee promotion that has been running for the past […]

2016 Global Survey of Individual Investors: How is investor behaviour rewriting the job description for financial professionals?

Trapped between expectations for near double-digit returns and strong apprehensions about investing in persistently volatile markets, investors worldwide are of the opinion that professional financial advice is worth the fee. But even though they believe individuals who work with a financial professional are more likely to achieve their goals, investors have a clear vision of […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment