Pension business boomed after A-Day

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MORE than one third of financial advisers have seen an upturn in pension business since ‘A Day', according to a new survey commissioned by Investec.

The South African financial giant’s private bank division’s survey was conducted by George Street Research in February 2007 and took in more than 215 independent financial adviser firms from across the UK. But as well as showing 38pc of advisers were doing more pension business, the survey also found many pension advisers remain skeptical of the benefits of ‘A Day’. Of those who have experienced increased volumes of business since April 1 2006, almost half have seen their pension business grow by between 11pc and 20pc following the regulatory changes. However, Investec Private Bank...

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