6 November 2008
AXA Winterthur Wealth Management [‘AXA Winterthur’] today announces it is to launch the first product from its new business model - The One from Winterthur - its new style Self Invested Personal Pension (SIPP) offering.
The product’s single structure allows investors to choose from a range of insured funds from Winterthur’s Elite fund of funds and Tailored Selection range, collectives, shares and commercial property without having to change policies. This facility gives clients the ability to adapt their pension to meet their changing needs throughout their retirement journey.
The One from Winterthur will be distributed via the new AXA Winterthur Wealth Management business.
The administration for The One from Winterthur will be carried out in-house, building upon Winterthur’s proven five star service*, enabling self-investment opportunities to some existing Winterthur personal pension customers as well as new clients. IFAs will benefit from online support, including investment and administration tools, comprehensive literature and access to trading.
David Thompson, managing director, sales & marketing, AXA Winterthur Wealth Management, said: “The introduction of The One from Winterthur combines the expertise of Winterthur within the complex pension market with the strength and technical capability of AXA. Its launch is a reflection of the changing needs of our clients and the investment options they now demand alongside the ability to have options at retirement within the same contract. These demands mean that a flexible pension structure that can be adapted as people’s needs change, is greater than ever.”
Key features of The One from Winterthur include:
Rebalancing: Regular rebalancing for funds from the Tailored Selection and Elite range is offered, whether held solely or along side self-invested assets, and ad-hoc rebalancing is offered for self-invested assets that are readily tradable on-line.
Investment options: Investment can be in funds from the Tailored Selection and Elite range, or clients may choose the self-investment option. Discretionary fund management options are also available. Different charging structures apply for those clients who have not opted for the option to self-invest and those that remain in Tailored Selection and Elite only. This gives clients the option to pay for what they want to use.
Retirement choices: The One from Winterthur offers access to a full range of Unsecured Pension options (income withdrawal) and Alternatively Secured Pension, giving continuity of benefit provision throughout retirement. The Unsecured Pension and Alternatively Secured Pension options also give the choice of annuitisation at any point, should the client be given this advice in the future.
Protected rights: Protected rights can be accepted into The One from Winterthur. Protected rights can be held in all Tailored Selection, Elite and self-invested assets.¹
Flexible Adviser Remuneration: Ability to take customer agreed remuneration transparently and directly from the client’s funds. There is also the ability to increase and decrease on going remuneration in specific circumstances, subject to client consent, allowing IFAs to agree with their client how much they should be receiving for their advice and when.² Another feature of the product is the ability to pay remuneration directly from the fund to an investment deals manager should the client appoint one on their behalf.
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¹ Please note that Protected Rights monies cannot be used to purchase the property.
² Subject to strict rules and procedures as set by AXA Winterthur Wealth Management.
For further information:
Paul Riddell, Press Office, +44 (0)1256 798099
Becky Holmes, Press Office, +44 (0)1256 798310
Keren Perrott, FD, +44 (0)20 7269 7218
Notes to Editors
*Winterthur won Company of the Year and two Five Star service awards at the Financial Adviser Service Awards 2007.
Various charging structures apply. Please see Charging Structures leaflet for full details.
AXA & Winterthur Wealth Management
AXA Winterthur Wealth Management aims to capture the global capabilities and financial strength of AXA Group, together with both the technical and product capability of AXA Wealth Management and the creativity and specialism of Winterthur. The integrity and ‘DNA’ of these companies will remain the same, but by bringing them together we believe we are creating greater value for IFAs and their clients. We are bringing together the best people, skills and resources, to maximise the strengths that both businesses have to offer.
The AXA Winterthur Wealth Management proposition is offered by companies within the AXA UK group of companies. AXA Sun Life Services plc distributes financial products and services for these companies and is issuing this item on their behalf. Details of the companies offering specific products are contained within the related material. AXA Sun Life Services plc is authorised and regulated by the Financial Services Authority and is a company limited by shares, registered in England No. 3424940, registered office: 5 Old Broad Street, London, EC2N 1AD. As part of our commitment to quality service, telephone calls will be recorded.
