Wealth management group St James's Place saw pension sales almost double last year after new regulations governing retirement savings were introduced, says the Daily Telegraph .
The group said new business sales rose 58% to £349.1m last year with an increase of 59% in the fourth quarter, while pensions sales jumped 96% to £140.1m following the A-Day changes. Mike Wilson, chairman, said: "There is a greater awareness of the need to do something about your pension and our particular target market can afford to do something about it." Sales of protection products, which Wilson described as "a commodity which people buy off the internet", slipped 8% to £22.5m, reports the paper. THE GROWING influence of private equity companies was strongly attacked by global ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
