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Exchange in Tep deal for IFAs to trade policies

Exchange FS is linking up with the Tep Exchange to provide an online service for IFAs to buy and sell traded endowment policies for their clients.

The Tep Exchange creates an online supermarket for buying and selling endowment policies, offering IFAs instant deals.

Policy details are held on a central platform so IFAs do not need to rely on fax or email to send details to a selection of market makers and wait for a reply.

Exchange says costs are kept low by its streamlined processes. This means market makers can offer potentially higher prices than they would via traditional paper based or email processes.

It claims this enables IFAs to get competitive prices for their clients in buying or selling Teps. The service is available free to all Exchange customers.

Exchange FS director of product marketing Chris Baker says: “The traded endowment market is growing in importance for IFAs because trading a policy is usually a better option for their clients than policy surrender. It was essential for us to provide our IFA customers with a Tep dealing platform, enabling them to trade their client&#39s endowment policies online with leading Tep market makers.”


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