Scottish Life has launched an investment proposition for pensions which it hopes will help advisers comply with FSA requirements.
It will introduce two pensions ranges, Custom and Governed, to offer flexibility for advisers and their clients at low cost.
As part of the Governed Range, Scottish Life has built on its existing risk-graded portfolios, expanding its number of profiles from three to five. It says this will help advisers to more closely match the risk profiles of their clients and meet TCF obligations.
As well as using 'autopilot' lifestyling strategies from the Governed Range, advisers can also create a customised investment path for their clients, all with ongoing governance support at no extra cost.
The Custom Range will be of particular interest to advisers looking to provide quality, ongoing and cost-efficient investment advice, Scottish Life says.
It aims to offer greater flexibility for advisers to be as hands-on as they need, depending on their business model and the service their clients demand.
"The challenge we gave ourselves was quite simple," says head of investment marketing Nick Leitch, "to design and deliver an investment proposition for pensions which offers unique flexibility, functionality and value."
"The new proposition emphasises the crucial importance we attach to strong ongoing governance in all respects, while giving advisers the option to use some or all of their own governance process if they wish."
The proposition provides automatic rebalancing, ensuring the portfolio matches a client's risk profile as economic circumstances change, and review frequency can be set by the adviser.
In addition, the Custom Range comes with white-label options, enabling advisers to provide branded documentation for their individual and group clients.
Leitch says the current economic turmoil highlights the need to operate a pro-active pension investment strategy, to prevent consumers from facing heavy losses as they approach retirement.
Scottish Life expects the proposition to comply with the FSA's recent advice on pension switching and rebalancing, and help advisers ensure they are treating their customers fairly.
Contact: John Bakie, Tel: 020 7484 9805, e-mail: [email protected]IFAonline
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