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.”
Private medical insurance should be renamed because it is too elitist, say protection experts Peter Le Beau and Andy Couchman. Couchman proposes to change the name of PMI to medical insurance or health insurance. He also proposes to rename long-term care insurance as care fees insurance and waiver of premium as premium skip but see […]
Resolution Asset Management has recruited Grant Shotter and Wilfred Willwong from Barings to be partners in its new emerging markets boutique, Hexam.
Terence O’Halloran may be holding out valiantly for the cause of with-profits but I have just seen a leaflet from Norwich Union to its with-profits holders which, in an obliquely abstruse and roundabout way (it might, in fact, have been written by someone at the FSA), appears to give advance notice of “financial incentives” for […]
The 32,000 Maxwell pensioners received their pensions but there are perhaps 100,000 being left without. Many of them have lost their state pension too, ending up worse than if they had never put a penny into their company scheme at all
As more and more providers start to reveal their stance on the charge cap and removal of commission and active member discount pricing, we thought it would be worthwhile to look at what these are, and the steps businesses should be taking to prepare for this.
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Providers are reviewing their marketing packages to advisers at conferences and on websites amid concerns they will fall foul of new inducement rules under Mifid II. Mifid II, which came into force on 3 January, brought in more stringent rules around “non-monetary benefits” from providers to advisers. The rules have been translated into the FCA conduct of […]
A misleading headline rate of unemployment means opportunities are being overlooked by investors
The FSCS is budgeting an extra £3.5m to cover the cost of running the scheme this year. The management expenses levy, which is used to cover the cost of administering the scheme separately from any compensation payments made, proposed for 2018/19 by the FSCS today is £77.7 million, up 5 per cent on the previous […]