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Britannic Assurance axes 2,000 direct sales staff

Britannic Assurance is axing 2,000 jobs from its direct sales force in the next 12 months in a restructuring it says will deliver cost savings of £82m.

Britannic says it is no longer economically feasible to run a large direct sales force servicing low to middle-income households.

The cuts bring the number of direct sales staff to be made redundant across the industry to nearly 5,000 in the last three weeks.


Gordon&#39s and tonic with a twist

If you like driving tractors, swilling whisky, having a gamble and, erm, procreating, this was the Budget for you. In what was perhaps an attempt to atone for some of these unsavoury associations, Chancellor Gordon Brown also promised that repairs to churches would attract a reduced rate of VAT. Then came his pronouncements on the […]

&#39Let product providers invest more in IFA firms&#39

Product providers should be allowed to invest in IFA firms, which would solve many of the financial problems facing them says the UK&#39s biggest life office. Norwich Union sales and marketing director Peter Hales sees a problem of under-capitalisation in the IFA sector. He believes the FSA should relax regulations which stop providers taking bigger […]

Amanda Davidson – Partner IFA Holden Meehan

For IFAs traditionally dealing with the upper end of the market there was little to get excited about in this year’s Budget. Even with over inflationary increases to capital gains tax (up to £7,500), inheritance tax allowances (to £242k) and the earnings cap (to £95,400) looking generous, a longer memory reminds us that these allowances […]

Anger at stamp duty left on share trades

Best Investment has slammed the Budget as “deeply disappointing for investors”. Deputy managing director Jason Hollands criticised Brown&#39s decision to axe betting duty while leaving stamp duty on share trades.


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