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BBB in national push for non-regulated network

IFA group Berkeley Berry Birch is pushing ahead with a full national launch of its non-regulated network Direct Protect after recruiting over 300 advisers from 100 firms through a pilot scheme launched in July.

Direct Protect adopted the 2004 regulatory regime from the outset and aims to become the number one network of its kind within two years. The network primarily offers term insurance, critical-illness cover, mortgage protection, income protection, accident and sickness insurance and PMI.

Members recruited so far are from across the spectrum of direct sales, IFAs, mortgage brokers and estate agents. All are expected to achieve and maintain high standards with at least FPC or a good showing in the network&#39s competency test.

In line with the acquisition strategy of the rest of the group, Direct Protect plans a series of acquisitions in its bid to become the biggest non-regulated network. Direct Protect is interested in any companies looking to sell in the run-up to regulatory change.

Chief executive Don Allan says: “People are becoming more hard-nosed. We want to develop business relationships and bring some fun back into the business. Existing agents in what has traditionally been referred to as non-regulated business have not always been offered quality products, consistent standards and a compliance framework.”

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