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Bright Grey is accused of being price-driven

Bright Grey has been accused by brokers of losing its focus and becoming too price-driven.

The firm, which repriced its product offerings last week, says it wants to put IFAs at the core of its proposition.

But Lifesearch head of protection strategy Kevin Carr says the firm has “lost its shine”, being too price-driven and making unnecessary product changes. He says: “They launched in a blaze of glory and shouted about how different they were going to be but market forces have not allowed them to maintain that.”

Highclere Financial Services partner Alan Lakey says he finds Bright Grey difficult to deal with and says its admin system are too slow. He says: “When a company makes a product computer-based, you expect it to be faster and more efficient but they are not. They have lost a degree of credibility for me.”

Bright Grey distribution director Andy Peters says: “Our focus is not on price – far from it. We will always try to be price-competitive as we have to compete effectively in the market but our overall aim is to provide best value and meet the real needs of our clients.”

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