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AA may outsource business to IFAs if the demand grows

AA IFA, the telephone-based advice service, is considering outsourcing face-to-face advice to regional IFAs if there is enough demand for the service after a test period.

The phone service goes live this month with three IFAs during its pilot phase, which runs until the end of the year. During that time, consumers wanting face-to-face advice will be referred to IFA Promotion.

AA IFA says if there is sufficient demand, it would look at various options, including employing its own IFAs offering face-to-face advice or using regional IFAs to act as third parties, which is likely to be the favoured route. It says it has spoken to IFA firms about becoming outsourced partners.

The AA will initially offer two products over the phone – single-premium investment bonds and retirement planning – but it plans to increase options over the next few months.

The three IFAs employed to date will be supported by AA back-office staff. One of the IFAs is Daniel Light, who was sales manager for Towry Law&#39s phone-based advice service.

AA IFA says it is having a “soft” marketing launch, building on internal leads from the AA&#39s database of 11 million and press ads.

Managing director Mark Taylor says: “This is predominantly a telephone-based adv-ice service and our research shows this is what people want. But depending on volumes of business generated during the test period, we will look at all the options.”


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