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Cut out the hurdles for direct access

Could someone explain where the benefit comes from in speaking with “a centralised and single point of contact” who will inevitably have a shallower understanding than the specialists?

Direct access and not unnecessary hurdles is what I want.

If Abbey National thinks that I will put business with Scottish Mutual or any of their other components to reduce the number of provider interfaces I have, they do not only have another think coming but they can try and write a compliant suitability letter, for example, “The reason I have recommended a Scottish Mutual bond is because I deal with other subsidiaries of Abbeynationalforintermediarieseven though their own parent bank will not sell you one.”

Some have asked why Abbey has decided to sell a Prudential bond rather than their own.

Surely they are keen because of the market-leading commission we are told that each will enjoy for selling the other&#39s products.

As the Prudential will sell, probably with some sort of contractual obligation,Scottish Provident&#39s protection products, this might turn out to be a bit of a one-sided gain for Abbey if with-profits bonds become untouchable.

In case, anyone thinks Abbey National is the IFA&#39s friend, I was with their then IFA arm ANFS back in 1993 when all their IFAs hoped that a closer association with the bank would evolve, that is, before Abbey National Life really got going. At the annual conference, a main board director spoke of “the importance to avoid customer confusion as to whom they were dealing with”. That said to me “good night ANFS”. The rest is history.

Name & address supplied


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