View more on these topics

Wrap launch will focus on new business

Standard Life will launch a wrap proposition next year built around its existing Sigma and Sipp platforms.

No decision has been made on the branding for the wrap but it will focus on new business, eliminating the problem of migrating legacy pension contracts onto it. It is likely to offer re-registration for mutual funds.

UK life and pensions chief executive Trevor Matthews believes a wrap proposition is a natural extension of the firm’s existing product, platform and service skills.

Matthews’ experience of the Australian and North American market underpins his support for a wrap but he stresses that the UK market is far more complex, with a greater breadth of products.

One potential means of getting round the problem of legacy business, although not perfect, is to allow valuations for pre-existing policies such as with-profits to be manually inputted.

Matthews says Standard, with its Sigma investment platform, Sipp and stakeholder and its imminent return to the protection market, will provide wide product coverage. The company is also working with third parties on the technology behind the wrap.

Matthews says: “The wrap plans for next year are advancing but we do not have a firm launch date yet. The focus will be on new business but it will almost certainly have re-registration capability.”


Ups and downs of drawdown

This week, I will conclude my short series of articles in which I have examined and discussed the nature and the extent of the main risks involved in pension drawdown.

Special delivery

Anthony Bolton, the long-serving superstar manager of Fidelity’s flagship special situations fund, is celebrating the silver anniversary of the fund by confirming that he will continue to run the fund until at least 2006.

Multi-manager view

In the past few issues of Money Marketing, there have been some lively discussions around the high cost of multi-manager products.

Atlantic crossing

North Atlantic Value, part of the JO Hambro Group, is looking for up to £5m for a C share top-up issue for the leisure & media venture capital trust. This VCT was established in 2001 and initially raised £8.6m net of expenses. Current holdings include Nu Nu and Tomahawk pubs which have been individually accessible […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm