Legal & General Wealth Management's pension sales have increased 38% in the first half of 2007 compared to the same period last year, according to an interim report.
Pension sales have risen to £255m from £185m in 2006. Total sales have risen 18% to £518m since the first half of 2006 while bonds have increased by 12% to £141m. Individual pensions have grown 67% thanks to rising Portfolio Plus SIPPs sales. Kate Avery, group executive director of Legal & General Wealth Management, says seven out of ten of Portfolio Plus SIPP sales come through the Cofunds platform, with average case sizes of more than £100,000. Avery expects case sizes to grow as customers benefit from the greater flexibility and bigger allowances for contributions post A-Day. Leg...
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