Fund links: Winterthur Schroder managed, Winterthur Deutsche managed, Winterthur Baillie Gifford managed, Winterthur Gerrard pooled pension, Winterthur BGI consensus managed, Winterthur elite cautious managed, Winterthur elite balanced managed, Winterthur elite stockmarket managed, Winterthur Schroder equity, Winterthur Jupiter income, Winterthur Perpetual high income, Winterthur BGI all share tracker, Winterthur Exeter capital growth, Winterthur ABN AMRO UK growth, Winterthur Credit Suisse income, Winterthur Newton income, Winterthur BGI ex multinational index, Winterthur Gartmore UK smaller companies, Winterthur Invesco GT European growth, Winterthur Gartmore European selected ops, Winterthur Credit Suisse transatlantic, Winterthur Fidelity American, Winterthur Credit Suisse Orient, Winterthur Fidelity South East Asia, Winterthur Baillie Gifford Japanese, Winterthur protector, Winterthur Deutsche all weather equity, Winterthur Deutsche annuity conversion, Winterthur fixed interest, Winterthur index linked, Winterthur BGI over 15 year UK gilt, Winterthur Gartmore global bonds, Winterthur BGI global equity 70/30, Winterthur BGI global equity 60/40, Winterthur international, Winterthur Newton international growth, Winterthur BGI multinational index, Winterthur Credit Suisse fellowship, Winterthur Aberdeen technology, Winterthur Close FTSE techMARk, Winterthur Sarasin equisar, unitised with-profits, Winterthur Exeter zero preference, Winterthur deposit.
Charges: Annual 0.4-1 per cent.
Allocation rates: 100 per cent.
Minimum term: One day.
Commission: Subject to negotiation.
Tel: 01256 798542.
Gary Mandell – Partner, Charter Mandell
John Holian – Certified financial planner, Maunby Investment Management
Barry Laymond – Senior practitioner, Barry Laymond Financial Services
Brian Duchart – Director, Donington Independent
Company's reputation: 6.0
Past performance: 6.8
Product literature: 6.3
Winterthur's open pensions is a cafeteria-style group pension product offering group stakeholder, group money purchase and a group personal pension.
Looking at how the plan fits into the market, Duchart says: “It is a comprehensive range of simply structured pensions.”
Laymond feels that it is just another entrant in what will soon be a crowded market place.
Holian says: “It would suit the adviser dealing with a total re-organisation of a company's pension arrangements. One company could deal with all aspects of a re-organisation including bulk buy-outs. This should ease administration and keep advisory costs down for the client.”
Mandell focuses on the stakeholder aspect: “The bandwagon continues, given that all stakeholders are (nearly) the same, investment performance and administration are the only variables. The fund links take care of the first, the latter is the crux.”
Turning to the type of company that the plan is suitable for, both Laymond and Mandell feel that it would suit any company with five or more employees.
Duchart says: “Any restructuring of existing arrangements or setting up new group personal pensions or stakeholders. Given the choice, most company's don't want to pay a fee.”
Holian says: “Most companies large and small would be able to use it. However, many companies may prefer a plan with less options and a household name such as Legal & General.”
Casting an eye over the marketing opportunities provided by the plan, Holian says: “The plan itself does not provide any special opportunities.”
Laymond and Mandell feel that the plan will not offer any more opportunities than the existing market.
Duchart says: “It can be used for most circumstances regarding existing scheme re-structure or new arrangements.”