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A rebalancing act.

Money Management

| March 01, 2003 | COPYRIGHT 2009 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Cash management is boring.

Unfortunately for investment advisers, getting it right is critical to maintaining the annuity purchasing power of a pension in income drawdown. Some of the insurance companies that are writing SIPPs draw income equally from all the funds within the product wrapper.

Fund supermarket Selestia is taking advantage of the insurance companies weak or even non-existent cash balancing facilities by forging relationships with existing SIPP administrators. Clients of specialised SIPP practitioners Hornbuckle Mitchell and Moorgate House are now able to invest all or part of their assets on Selestias online administration platform.

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Selestia links with IFAs for Sipp and drawdown. (News).(Brief Article)
Magazine article from: Money Marketing February 13, 2003 700+ words
...specialist IFAs including Hornbuckle Mitchell. Selestia will provide the...a similar agreement with Moorgate House, which specialises in advising...as the pension wrapper." Hornbuckle Mitchell managing director Mark Stubbs...
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Source: HighBeam Research, A rebalancing act.

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