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BAM under pressure after fund deal by society

The pressure is on Britannic Asset Management to shape up after it lost an exclusive distribution deal, says Rowan analyst Tim Cockerill.

Britannic could be put under intense scrutiny to get its funds back on the IFA radar after Britannia Building Society, which previously only distributed Britannic funds, signed a deal to sell Axa Sun Life investments as well.

Cockerill believes Britannic will have to rise to the challenge of increased competition or see a fall-off in sales. It will face tough competition as Axa is also planning a restructure of its investment funds to boost business to intermediaries.

Cockerill says: “The change really has to put the pressure on Britannic and that could be a good thing. I think we have seen in financial services that increased competition can lead to increased quality. Britannic have dropped off the radar a bit in the last few years while Axa have a very comprehensive range.”

Britannic head of public relations Jackie Fraser says: “I can see why they would want to take a look at their distribution options. We are not surprised that they are taking advantage of depolarisation and increased their products. It is difficult to quantify how this will affect sales for us. It could be it could open up new opportunities for us but it remains to be seen.”


Pre-Budget – Which? says Government must not rely on the industry to meet the needs of society

Which? principal policy advisor Mick McAteer says the Government mustn’t rely on the industry to voluntarily meet the needs of society.But McAteer welcomes the financial inclusion fund to tackle the problems of those people who are financially excluded.McAteer says: “A new concordat between Government and industry is needed to ensure that all consumers have access […]

A consumer’s view

The almost wilful refusal of the vast majority of the public to learn about and take an interest in their financial aff-airs must be a continuing cause for concern for IFAs who have to advise them, and the regulator, charged with the unenviable task of educating the general public about money matters.

Assureweb flies the kitemark for system security

Assureweb says it is the first IFA portal to gain a British standard for security practices and is calling on its competitors to work harder to demonstrate the same level of commitment to improving security.

Image courtesy of Stuart Miles at

Pension freedom: wish you were here?

Out there lies a warm ocean of desert islands, sun, sand and palm trees, where individuals can choose how and when to tax-efficiently access their pension fund and realise the retirement dreams they have worked so hard for.


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