Online IFA pensionsbusiness.com has added Norwich Union and Legal & General to its stakeholder pr...
Online IFA pensionsbusiness.com has added Norwich Union and Legal & General to its stakeholder provider panel as part of its strategy to encourage accountants and lawyers to recommend the new employer-based pension plan.
Pensionsbusiness.com - which claims to be the first IFA company to offer employers a choice of stakeholder and group personal pensions online and in line with current stakeholder requirements - already has Clerical Medical and Scottish Mutual on its pensionsbusiness.com's panel, bringing the total contracts on offer to four.
The new providers will offer annual management fees of 0.8% and 0.9% respectively, and pensionsbusiness is said to be in talks with other providers to add to the employer choice.
Rather than appeal directly to other IFAs, pensionsbusiness.com is aiming to attract business from accountants and lawyers who know little about the pensions market but have employer clients in need of advice and a product to put in place.
Michael Lockyer, Chief Executive of pensionsbusiness, said: "Every business will have different needs and varying priorities for their employees, so the addition of these two competitive contracts creates a greater choice for the employer, now responsible for offering these benefits.
"With the onset of Stakeholder fast approaching, and increasing numbers of providers offering Stakeholder contracts it is essential that employers are given a real choice from those top providers in the market."
pensionsbusiness.com is a trading name of The Stakeholder Pension Company Ltd, A member of DBS Financial Management.
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