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Britannic extends extra allocation on with-profits

Britannic Assurance is offering IFAs an extra 2 per cent allocation on new investments into its with-profits bonds before December 31.

The extra allocation scheme, which applies to investments of more than £5,000, was originally launched in June and ran until mid-August. However, Britannic has now decided to reopen the offer until the end of the year.

Britannic says that the scheme has been constructed to give IFAs the flexibility to spread investments across a number of providers without losing any extra allocation.

The life office says it was one of the first providers to introduce an extra allocation scheme, which many providers now follow.

Britannic Assurance head of IFA distribution Bob Levy says: “We recognised some time back that IFAs may want to spread substantial investments among a number of providers.

“As an established provider of bonds, we decided that we should lead the way in allowing IFAs to do this without them missing out on our extra allocation. Our initiative allows IFAs added flexibility in spreading investments.

“That reflects, as an acknowledged with-profits bonds specialist, our aim to reinforce our reputation with IFAs and to demonstrate that as a provider we understand their business and value our partnership. We are proud of the fact that we developed this initiative and set the agenda with IFAs.”

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