Pru launch 'first to use factory-gate'

The firm says its Prudential Investment Plan (PIP), a unit-linked bond wrapper, allows 100% of client funds to be invested up-front, with advisers agreeing their fee levels directly with clients. Prudential says the fact the launch coincides with the issue of factory-gate pricing being flagged up in the Retail Distribution Review (RDR) is nothing more than “fortunate”, and says its product has not been designed in light of the RDR. The firm has dabbled in the factory-gate arena before, namely with a previous pension product, as has Clerical Medical, but Prudential says PIP remains the fir...