threesixty Launches ‘Third Way Panel’
threesixty, the fee-based IFA support services provider, has launched a product panel for its clients listing preferred partners offering ‘Third Way’ pension products.
The panel lists seven products from five providers including MetLife, the Hartford, Aegon, Prudential and Lincoln. The launch was in response to growing interest among IFAs for Third Way products, which are also referred to as ‘variable annuities’ or ‘pension products with unit-linked guarantees’. The term ‘Third Way’ is used because the products offer an alternative to traditional and drawdown annuities.
To coincide with the panel launch, threesixty is currently producing three films that examine Third Way issues. These are presented by David Ingram, Partner at threesixty, and Michael Rudge, UK Director, the Hartford for release exclusively on threesixty TV, threesixty’s own online TV channel, available at www.threesixtyservices.co.uk.
David Ingram commented: “The panel is more of a listing of products where we have been able to conduct due diligence because the diversity of offerings in this area makes a true ‘panel’ virtually impossible to create.
“But its launch is in recognition of the increased demand for more flexible retirement options. This is a new area and we want to make sure that our clients have all the help they need in understanding it and providing the right advice.”
Dominic Grinstead, Strategic Development and Marketing Director at MetLife Europe, commented: “Any tool that helps IFAs to understand and sell these new pension products is to be welcomed.
“Unit-linked guarantees will play a leading role in pension planning going forwards. But there are some fundamental differences between the products on offer and being able to compare and contrast them in one aggregation is a massive help to IFAs.”
threesixty will also be holding a series of roadshows on the subject of Third Way pensions in October as part of its regular key issues series.
IFAs who would like to receive details about the roadshows when they become available should send an email to: Robert.cain@threesixtyservices.co.uk.