2 August 2007
Winterthur has today launched a new dedicated service within the award-winning Winterthur site to provide updates, commentary and opinion on the FSA’s first proposal for discussion regarding the Retail Distribution Review (RDR).
The discussion paper represents ideas from the market and consumer representatives involved in the RDR, and follows six months work to address the root causes of persistent problems in the retail investment market.
While there is concern around the Review’s intentions, Winterthur believes in many ways it could not be better timed and, for advisers with an eye on value, it might prove a real opportunity to move into a longer term customer focussed business strategy. The web service will therefore provide advisers with a resource to access the latest thinking around the review and to guide them through the proposed changes as the review’s discussion paper reaches its conclusion at the end of December 2007.
The web service, which is part of the company’s Professional Edge range of adviser support services, can be accessed at www.winterthur-life.co.uk.
David Thompson, managing director, Winterthur, says: “Following the Winterthur high net worth roadshow in May 2007, it was clear that, while advisers were aware of the Review, they were less clear on what it really means to them and what changes they might need to consider to their business model in order that they take advantage of the changes. Winterthur’s Review of Retail Distribution web service has therefore been launched in direct response to this need.
“Flawed, over-complicated and unfair – these are just a few terms levelled at the current system of financial product distribution in the UK. There’s no doubt that the current model of distribution needs revision, but it has strengths which advisers and providers have worked together to develop, and one hopes these will not be overlooked in the FSA review. This is why it is critical that advisers fully engage with the RDR – which is arguably the most wide-reaching investigation since The Financial Services Act in 1986.”
The introduction of this new web service further enhances Winterthur’s successful online presence. Winterthur won the Best IFA Website accolade at the Pensions Management Technology and Service awards in 2005 and 2006 and the 4 star award for the Financial Adviser Online Service awards 2007.
Content of the new site includes:
- Useful document library containing Winterthur’s views and copies of RDR related press releases, as well as relevant information from the ABI and the FSA.
- Quick links page with links through to the ABI, FSA, AIFA and other relevant online resources
- Dedicated mailbox to post questions directly to Mike Morrison, Winterthur’s pensions strategy manager, for up-to-date responses to advisers’ RDR queries
- Interactive online voting featuring RDR related questions
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For further information:
Paul Riddell Winterthur Life, Press Office +44 (0)1256 798099
Christine Wood FD +44 (0)20 7269 7253
Notes to Editors
About Professional Edge
Winterthur Life has implemented a range of expert support services to help IFAs with everyday business activities and future planning, offering these advisers the ‘Professional Edge’ over their competitors. The package of services has been designed following research into the business needs of IFAs and currently includes the following services:
- Dedicated Professional Edge consultants with support staff
- Business management and people development, including an HR advisory service and ‘Winterthur Chambers’; a special service designed to help IFAs target professional practices plus ‘Chambers’ study support, recruitment and selection
- Adviser solutions and strategic business planning, particularly in regard to preparations for depolarisation, simplification and moving to fees
- High quality, specialist workshops and study support sessions
- A range of quality technical and educational adviser support material
- A premium Transfer Value Analysis System with a choice of options
About Winterthur Life UK Limited
Winterthur Life UK Limited is part of AXA Group, one of the largest financial institutions in the world.
Winterthur Life UK Limited is a provider of focused investment and retirement solutions and support services predominantly distributed through quality IFAs to their high net worth clients.
The company is recognised as having an innovative approach to financial products and its products feature simple, transparent charging with access to a wide range of carefully selected investment funds and fund managers via its Tailored Selection fund platform. Winterthur is also differentiated in the market through its focus on service excellence.
Winterthur Life UK Limited has a B+ financial strength rating from AKG, which denotes “very good financial strength”. At the end of 2006 Winterthur had assets under management exceeding £10 billion, and grew its new pensions business by 125% to £1.45 billion.
www.winterthur-life.co.uk
AXA
AXA UK is a part of the AXA Group. AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse geographically, with major operations in Western Europe, North America and the Asia/Pacific area. For full year 2006, IFRS revenues amounted to €79 billion and IFRS underlying earnings amounted to €4,010 million.
The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock Exchange. The AXA American Depository Share is also listed on the NYSE under the ticker symbol AXA.
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