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Bankhall will extend GI deal to IFA market

Bankhall is extending its general insurance proposition to the wider IFA community and intermediaries and says it will champion the return of the composite model to the IFA market.

The firm is running a series of roadshows to promote the general insurance premier service. The service is headed by Mike Williams, formerly of Total Broker Solutions and the British Insurance Brokers’ Association, who joined Bankhall as head of general insurance in April.

It will offer compliance support, commission aggregation, business development and training to IFAs who want to boost their GI business.

Commercial development director Shaun Godfrey believes the return of the composite model to firms will bring an upsurge in general insurance sales from private health insurance to directors & officers’ insurance. He considers the market is moving towards the American model, with consumers more willing to review their domestic situations and seek out insurance.

The scheme costs an average of 300 a month with a commission levy of 3.5 per cent of commission earned.

Godfrey says: “IFA firms are starting to create composite businesses of investment, mortgages and general insurance as it is all about convenience for the clients. IFAs are great door-openers and our proposition is about opening doors.”


Newcastle Building Society closes 19 branches

Newcastle Building Society is closing 19 branches which have become increasingly unviable due to falling customer usage.All these branches are outside the society’s core north-east region. The closing branches have become increasingly under-used by customers according to Newcastle BS and this trend is likely to continue over the longer term. It has therefore become difficult […]

Break down and cry?

IFA Promotion’s latest press campaign shrieks: “UK employees will miss out on a staggering 285m of tax breaks this year by failing to take advantage of employee share schemes.” While IFAP clearly does a lot of good work in selling the virtues of independent advice, the Diary thinks that blanket promotion of employee share schemes […]

UBS plans move into mortgages

UBS is looking to launch into mortgage broking with former Chelsea Mortgage Management consultant Jay Williams leading the proposed arm. The firm is understood to be focusing on lucrative high-net worth clients, particularly existing clients who use UBS for its wealth and asset management capabilities. Jay Williams left Chelsea Mortgage Management shor- tly before its […]

Winning hand at card game

JP Morgan held a press event at the top of Tower 42 in the City to herald the arrival of former Framling- ton Japanese fund manager David Mitchinson, over from Tokyo for a few days. A rumour circulated that JPM staff had been instruc- ted not to give their business cards to journalists on any […]

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Pension freedoms: stop the scams

At the beginning of 2015, we highlighted that the new pension freedoms that come fully online on 6 April also represent a very attractive opportunity for the criminal fraternity to scam savers out of some, or all, of their accumulated retirement savings.


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