UK - Scottish Equitable has launched a new flexible personal pension plan aimed at high net worth individuals.
It says the plan is designed to remunerate the adviser for the advice given and offer clients the potential of outperformance in relation to conventional single-priced products.
The scheme also offers a self-investment option which will be further developed to provide access to a fund supermarket covering over 500 funds run by 30 fund management houses.
Scottish Equitable head of individual marketing Douglas Jones said: “Downward pressure on charges is squeezing advice out of the market and advisers are seeking new solutions.”
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MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
Aegon has called for the government to double the tax exemption on employer-arranged pension advice, up from £500 to £1,000.
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