Zurich today announces how it plans to support advisers and their clients following the implementation of the Retail Distribution Review (RDR).
In its guide, ‘Supporting your business into the future', the insurer sets out details of its post RDR offering, including its on and off platform proposition.
Zurich's Intermediary Platform is the cornerstone of the insurer's post RDR offering, which facilitates adviser charging across the products available through its platform including;
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Cash ISA
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Stocks and Shares ISA
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Investment Account for unwrapped assets
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Retirement Account providing wider SIPP assets and drawdown capabilities
At the same time, Zurich is also launching a new off platform RDR compliant Sterling Investment Bond which will be available from 1st January 2013.
The guide also outlines Zurich's approach to requests received from existing customers that want to top up their existing policies with an additional contribution. For these customers, Zurich will be able to facilitate the request on a non-advised basis, subject to the terms and conditions of the individual policy.
Adrian Nash, Zurich's Head of Wealth Propositions said: "We fully support the aims of the RDR and believe increased levels of professionalism and transparency around charging will bring real benefits, not just for customers, but also for advisers and the industry as a whole.
"At the same time, we recognise that as an industry, we are facing a period of unprecedented change. With this in mind, we've developed our Intermediary
Platform to enable advisers to continue to meet evolving customer needs whilst helping advisers transition their business to a post RDR world."
Zurich's guide also includes details of Zurich's off-platform proposition and outlines the products that will close at the end of the year.
Those closing to new customers are:
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Zurich SIPP
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Zurich Trustee Investment Plan
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Sterling ISA and Investment Account
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Existing Sterling Investment Bond
In addition, the guide includes information about the deadlines for processing applications for those products closing at the end of the year. It also features a Q&A section addressing adviser concerns around RDR as well as an ‘at a glance' guide to the changes.
Current remuneration arrangements for advisers will continue to apply to applications received before 31 December and where policies are processed and paid for by 15 January 2013.
Copies of the guide can be downloaded from Zurich's dedicated website for advisers at zdownload.zurich.co.uk/document/News/rdr/714167.pdf
For further information, please contact Sara Lister, Senior Media Relations Manager on 01793 503810.
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