Latest press releases

The new rules on individual protection announced this week allow people to apply for both fixed protection and individual protection. Anyone applying for fixed protection may benefit by also applying for individual protection, as it could provide valuable contingency and help ensure future flexibility.

New rules announced by HMRC provide people with large pension savings the flexibility to continue to receive valuable employer contributions to their pension.  Higher and additional rate tax payers in-particular may be better off receiving these pension contributions rather than receiving the benefit as additional salary, even though the future value of the additional pension contributions may exceed the Lifetime Allowance (and be subject to a 55% tax charge if taken as a lump sum in retirement).

Skandia’s net sales figures for the month of May show the search for income continues to be a key investment driver. Income generating funds continue to dominate the top 10 selling fund list, and the Towers Watson UK Fixed Interest sector has jumped backed into the top spot.

Flexible drawdown is a huge financial planning opportunity for financial advisers and is not just for clients who reach retirement with significant pension savings. Flexible drawdown should be discussed with those who are still building up pension savings, as clients need to consider the benefits of making sacrifices in the short term in order to achieve a ‘no strings attached’ pension at retirement.

April net sales for the Skandia Investment Solutions platform saw a pick-up in flows into UK Fixed Interest funds after the rate of net flow looked to be declining earlier this year. UK Fixed Interest net sales for April show the sector has now recovered, accounting for 21% of sales. The recovery in fixed interest was primarily driven through a significant increase in flows into Old Mutual Corporate Bond that took top spot in net fund flows in April on the platform.

Skandia has taken a number of actions to speed up re-registration processes with platforms that are currently unable to handle automated re-registration.  Skandia was among the first providers in the market to set up and begin carrying out automated re-registration and 40% of its re-registration volumes are now being handled electronically following the implementation of electronic solutions by a number of main providers and fund groups.

Those with just a few years left until retirement should consider overhauling their savings strategy – especially if they currently have money purchase pension savings of around £335,000. Such levels of savings mean they could qualify for flexible drawdown. One last big push now, even if it means making a few short term sacrifices, could radically transform their retirement income options.

Old Mutual Wealth, comprising Skandia and Old Mutual Global Investors, today announces assets under management increased 8% during the first quarter of the year to £74.5 billion, as at 31^st March 2013. Growth was driven by net inflows of £410 million and positive market movements.  Gross sales during the quarter were up 19% on the same period last year to £3.1 billion.

The confidence of financial advisers in the global economy increased for the third quarter in a row to an average of 6 out of 10 during Q1 2013, according to the international adviser confidence barometer conducted by Skandia.*

87% of clients would be disadvantaged if rebates were abolished completely