Scottish Widows plans to reduce the administrative burden on advisers with clients making regular contributions into its Retirement Account, IFAonline has learnt.
Currently, customers wishing to invest in funds other than Scottish Widows' own range might see their contributions initially invested in cash through Scottish Widows Control Account. The adviser would then have to issue a separate instruction every month for the money to be switched into the selected underlying funds. However, advisers say having to schedule a monthly request to Scottish Widows is proving to be too time consuming. Harry Reilly, from IFA firm Gilliland Neilson Brown, says the choice of funds which can be accessed through the account is good and he has no complaints about...
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