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Beale Dobie sees rush for Standard Teps

Tep firm Beale Dobie says its shelves have been strip-ped bare of Standard Life endowments.

The rush has been sparked by investors eager to take advantage of expected windfalls if the UK&#39s biggest mutual converts to a publicly traded company.

Standard Life policies normally make up 15 per cent of Beale Dobie&#39s business.

The Tep firm says it is also getting many calls from prospective customers, existing clients and independent advisers concerned about the possible effects if Standard converts.

Investment manager Tracey Merritt says: “It would be fair to say that sales have increased since January when the rumours got stronger.”

However, other Tep firms are not seeing such big increases in business.

Absolute Assigned Policies chief executive Lee Portnoi says there has been a tremendous demand for policies of companies such as Standard Life and Friends Provident over the last two years but no marked increase since the mutuality debate began.

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