View more on these topics

Broker Talkback

Is Friends Provident right to move away from wealth management and concentrate on life and pension business?

Yes 75%
No 25%

Yes “Friends Provident is ok on pensions and their service is good but their new investment bond is hideous.”

Gillian Frodsham, IFA Gillian Frodsham

No “It is a bizarre decision because people tend to be moving away from life and pensions towards investments rather than the other way around. But then again, maybe that’s why they are doing it.”

Ian Mason, IFA

No “I think it should offer a wider range and scope to its clients and policyholders”

Andrew Wilson, Andrew Wilson & Co

Yes “I think they probably are right to do this. Once they start dabbling in boutique-style business, then they take their eyes off the ball. They need to focus on their core products.”

David Hedge, DC Hedge

Yes “They probably are not making much money out of wealth management so I think it is best they concentrate on their core areas”

David Thompson, IFA

Yes “They should concentrate on their core business. They bought F&C in the 1990s when such acquisitions seemed the mood of the times but it hasn’t worked out”

Joseph McClarence, McClarence Financial

Yes “The continued talk of a takeover has meant Friends Provident has not seem very settled. They have lost credibility and I do not see them as a big player in wealth management”

Andrew Robertson, Robertson & Co

Yes “It has to be a good move for them as they are not making money, even if it does look like they are backing out of the market”

Alok Dhanda, Dhanda Financial

Recommended

New fees free overseas property mortgage broker launches

A new fees free overseas property mortgage brokers has launched today.HiFX Mortgage Services offers products from the UK and overseas lenders for people purchasing or re-mortgaging an overseas property or looking to release equity from their UK home to fund a second home overseas.The broker will be pay referring agents an introductory commission of 35 […]

Prime Rate receives FSA approval for cash management funds

Prime Rate Capital Management has received approval from the FSA for its Prime Rate Cash Management Funds.These are liquidity sub-funds of which the company claims are the first UK domiciled qualifying money market funds. These are denominated in Sterling, US Dollars and Euros.Prime Rate funds will offer investors access to a secure and flexible alternative […]

AMI sets up show to bring new lenders to UK market

The Association of Mortgage Intermediaries is to hold an event in May in a bid to encourage new lenders into the UK mortgage market.At the Mortgage Expo in belfast last week, director Chris Cummings said the AMI is looking to launch a spring event for international lenders which do not operate in the UK. He […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment