Independent Financial Advisers stand to gain if more employers with small- to medium-sized defined benefits (DB) pension schemes move towards a "bundled" approach, says Scottish Life.
The Edinburgh-based company believes bundling - here defined as putting administration, investment mangagement, actuarial support and investment advice under one roof - could work as an viable option for advisers aiming to to offer an alternative to self-administered arrangements. Alternatives to DB schemes are becoming increasingly important because employers are increasingly refusing to bear the associated costs. More than half of such schemes are currently closed to new members, while the government has done its bit by introducing a new rule last June, which made wind-up a less suit...
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