Members of the Misys IFA network have sold an average of less than one stakeholder policy per advise...
Members of the Misys IFA network have sold an average of less than one stakeholder policy per adviser, according to a survey by a subsidiary of the group.
The survey shows that while most IFAs with the network are finding that pension sales are the remaining level despite the poor economic outlook, the average number of individual stakeholder plans sales was 0.65 per intermediary and less than one group scheme per member.
Patrick Gale, CEO of Misys IFA, said 79% of its members reported group personal pension sales were at the same level or increasing on last year. This is in contrast to personal pensions, where only 43% of respondents found the same or increasing business.
The research found the average premium for individual stakeholder plans was £93 per month, and there was an average employee contribution of £20 per month for group schemes.
The three most used companies by the intermediaries for stakeholder were Norwich Union with 37% of respondents using it, Standard Life with 34% and Scottish Widows with 10%.
The firm attributes the low level of stakeholder business by its members to lack of room for advice.
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