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Billy Burrows leaves Better Retirement Group as London office shuts

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Burrows has left Better Retirement Group to become head of business development at Annuity Line

Better Retirement Group has closed its London office, with director Billy Burrows leaving the firm to join non-advised annuity specialist Annuity Line.

Better Retirement Group will now operate from a single office in York. Four people were made redundant as a result of the office closure.

Burrows, whose firm William Burrows Annuities was incorporated with Better Retirement Group in 2010, becomes head of business development at Annuity Line.

Better Retirement Group managing director Tim Eadon says: “We decided to close the London office as part of a cost-cutting exercise.

“This is already having a positive impact on our turnover and profitability.”

Better Retirement Group chairman Stuart Bayliss says: “Billy has made an important contribution to BRG as the business has moved from an annuity adviser into a larger retirement income business and we wish him well for the future.”

Burrows says: “As someone who is passionate about ensuring clients get the best outcomes at retirement this is a great opportunity to help Annuity Line reach a wider audience.”

Burrows says Annuity Line is considering launching an advised proposition alongside its non-advised service.

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Comments

There are 6 comments at the moment, we would love to hear your opinion too.

  1. Oh how the worm has turned. I bet non-advised is no longer the scourge Billy once said it was. “It’s no good just shopping around, you need to know what you are shopping for” said Billy only a few months ago. Good luck at Annuity Line/ACH/Rockingham or whatever they choose to call themselves this month…

  2. I must be reading a different article as the one I see says Billy’s heading up business development and AL are already considering an advised service – hardly a turncoat role..! RDR has sadly ensured non-advised annuities are going to be around for the long term due to costings so having an industry expert onboard can only be a good thing IMO. Good luck to you Mr Burrows.

  3. I don’t think we can begrudge Billy the right to earn a living, although it will be interesting to see whether his views remain consistent now he is drumming up business for what is currently an exclusively non-advised service. The real criticism should be aimed at the FCA, who created the environment where a quality outfit like BRG is having to cut costs to stay in business, while the likes of Annuity Line are seemingly able to thrive.

    My sympathies to those made redundant. The other losers are of course the end customer, with quality retirement advice becoming harder and harder to obtain as firms are being drove out of the market by the big non-advised players.

  4. dAphne,jenkinssmythe 14th August 2013 at 1:52 pm

    Billiam “Billy” Burrows, the man, the ledgend, the annuities guide…..maybe we need a replacement, Ricky Ruddells retirement income guide?

  5. This certainly is a sad news mainly for the end customer who will be loosing out the most. Having dealt with BRG personally , I witnessed the quality and effort which was put into offering advice under stewardship of Billy Burrows.

    I have no doubt that Billy will once again rise to the challenge and launch advisory based proposition for AL.

    I wish you all the best.

  6. What a spiteful industry this is.

    Good luck Billy

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