View more on these topics

Axa: regional recruits plan to sign up further advisers

Axa is believed to be looking to recruit an IFA firm in each region around the UK to co-ordinate the recruitment of further advisers as part of its plans for creating multi-ties following depolarisation.

The company intends to use the experience it has obtained through sister companies in non-polarised nations and from running a tied agency network and direct salesforce to develop a distinctive multi-tie proposition, Money Marketing understands.

Further details of Axa&#39s post-depolarisation plans are thought to include recruiting an IFA firm in each region which would then recruit further IFAs, which would keep their client ownership.

It is also understood that Axa will offer technology, training and competence, recruitment and business consultancy services, along with professional indemnity solutions and enhanced commission, but no lead-generation.

Axa sales and client management director Gary Tarleton denies the company is looking to recruit an IFA in each region to recruit others, saying it has not taken stakes in IFAs and does not intend to do so at this stage.

Bankhall director of marketing Tony Murrell says IFAs need to look carefully at things, such as the legal definition of client ownership, rather than just accepting what a provider says it may mean.

Tarleton says: “We are successful in all three elements of distribution, including being primarily IFA and also in the tied agency and bancassurance. What we are looking to do under multi-tie and depolarisation will be to lever our experience in each of the different distribution elements across our distribution.”

Murrell says: “IFAs too easily accept what looks to be an attractive proposal without carefully studying the ramifications of the exit route.”


Millfield cuts loss by 4.5 per cent

National IFA Millfield Group&#39s losses have fallen 4.5 per cent to £5.6m in the six months to September 2003, from £5.9m for the same period last year. The Aim-listed firm saw turnover for the period increase 65 per cent to £23.5m for the six months to September 2003, from £14.2m for the same period in […]

Product matters

Advisers working with blue-collar workers should sit up and take note of a new kid on the income protection block. Holloway Friendly Society has taken an innovative look at this too often underestimated product. Unlike more traditional products, its plan has day-one cover, no female or smoker loadings and, most significantly, no occupational loadings. Combine […]

Thai is top as Far East recovers from Sars

The Far East was the leading investment trust sector in October according to figures from the AITC. The Far East has bounced back following the Sars scare this year which sent prices plummeting. Thailand has emerged as the focus of a lot of speculative market activity. The Japanese smaller companies sector is the top performer […]

FSA in pledge to crack down on misselling by bank salesforces

The FSA is pledging to come down hard on banks which fail to bring in controls to end misselling to customers who lack adequate financial product knowledge. Chairman Callum McCarthy warned delegates at the annual British Bankers&#39 Association conference in London this week that the FSA would exercise its enforcement powers in a bid to […]

Global energy: positioning for a recovery in the oil price Š

Richard Hulf explains how he and John Dodd have positioned the Artemis Global Energy Fund and where they are finding opportunities. Richard explains how he and John are changing the complexion of the fund to focus on the most efficient oil producers. As he tells journalist Alexis Xydias, in this environment of lower prices, he […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm