# Synergy Investment Bond from Standard Life



## Patrickf (19 Jun 2007)

Hi,
Have an endowment policy about to mature with Standard Life. My mortgage is paid up. Standard Life offer me an opportunity to invest all or part of the policy in a Synergy Investment Bond. I am prepared to invest up to €15,000 at present for 3 years. Any advise on the Synergy Investment Bond or other suitable investment product would be very welcome. 

Patrickf


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## z108 (19 Jun 2007)

They do give you an extra allocation already if you are investing in synergy using an old endowment policy.

But when I had the same questions of standard life , one of their advisors said I might be able to get a better deal through a independent broker.


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## Omega (19 Jun 2007)

Hi All,
I'm in the same situation as PatrickF and am wondering what the essential difference between the Synergy product and Quinn Life investments is? They look very similar to me..... any opinions? Thanks.....


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## CCOVICH (19 Jun 2007)

Here's the [broken link removed].

There are quite a few differences between this product and funds offered by Quinn.


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## Patrickf (19 Jun 2007)

Thanks Sign,
What do you mean by a better deal through an independent broker. All this in 'new territory' for me.


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## LDFerguson (19 Jun 2007)

Have a look at www.bond.ie - same funds, lower charges.


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## z108 (20 Jun 2007)

Patrickf said:


> Thanks Sign,
> What do you mean by a better deal through an independent broker. All this in 'new territory' for me.



You need an execution only broker or an independent broker for this. its possible you could negotiate a reduced fee if you shop around.

An execution only broker is someone who charges a flat once off fee, does not take any further charges or commissions from your future investment return and is not tied to any one product. An independent broker is not tied to any one product (and its hefty commissions such as increased annual  fees and bid offer spread) and there is supposed to be no conflict of interest with the advice he or she gives.
You can use them to purchase investments and mortgages and you can actually save a lot of money over the lifetime of these products using this channel because charges are dealt with as a once off and are all dealt with up front much more cheaply than through a tied non independent broker or regular sales channel.

I feel free to plug www.labrokers.ie as execution only brokers because they gave me a commission free standard life with profits policy for my SSIA which creates good karma for them 

However verifying the identity of the cheapest broker would require some more investigation.
There are a few threads around here which perhaps have a more exhaustive list of independent or execution only brokers.


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## Patrickf (21 Jun 2007)

Sign,
Thanks for information. I might be as well to drip feed into a reglar saving account such as Halifax (7%) or EBS (7%) over two years e.g (€2000) monthly in joint account. I only intend tying up funds for max. of 3 years at a time due to my age. What do you think of this idea?

Yours etc.
Patrickf


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## Omega (24 Oct 2007)

I got my letter from Standard Life yesterday where they state, in relation to the Synergy "offer" on my maturing endowment policy, that "100% of your money is invested from day one". Does this mean that there are no charges? ..... and I wonder if this is a "good" time to get into these funds, given the current low state of stock markets? Thanks.


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## F. Kruger (24 Oct 2007)

Omega said:


> ....that "100% of your money is invested from day one". Does this mean that there are no charges?


 
If it's the Synergy *Investment* Bond and 100% is invested, there would be an initial charge of 3% and early exit penalties of 5/5/4/3/2/1%, on the value of the investment, in the first 6 years. 

If it's the Synergy* Portfolio *Bond  and there is 100% invested, there would be no initial charge and no exit penalties.

There would be an Annual Management Charge on both products.


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## Omega (24 Oct 2007)

Thanks F, I think I'll avoid it.....


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