Bradford & Bingley is close to finalising its protection multi-tie offering after asking providers to tender to be on its panel in March.
The former building society is believed to have received tenders from players such as Standard Life, Legal & General, Norwich Union and Scottish Widows as well as smaller providers Liverpool Victoria and Bright Grey. It is understood to have shortlisted providers it is keen to have on its panel.
Group financial services director Roderic Rennison predicts B&B will have one multi-tie for protection and one for the rest of the market covering everything from with-profits bonds, Oeics, unit trusts and structured products to individual pensions and stakeholder products.
B&B's multi-manager investment proposition will continue to operate once it is multi-tied and Rennison says B&B will also offer a multi-tied investment proposition with a wide choice of providers with links to external fund managers.
B&B says it will also offer mortgages from a bigger panel than the three to six providers Rennison predicts will be on its protection panel.
Rennison says: “On the investment side, we are not likely to go for best in breed. We are looking to have a range of companies on our panel which will be periodically reviewed. Customers will not in any way find their choice restricted.”