View more on these topics

First Global launches virtual on-line IFA

New IFA First Global has linked up with The Exchange and pseudo network Anglo-Caledonian in a bid to become an online virtual IFA.


First Global is harnessing The Exchange&#39s technology to deliver the online service to consumers which initially will allow them to buy term assurance via the internet.


The operation is set to be launched in the next few weeks with further products expected to be introduced over the coming months.


The company has also linked up with Edinburgh-based pseudo network Anglo-Caledonian which recently bought by Bankhall in a £250,000 deal.


The 25 member network, the members of which are directly authorised, will provide a processing and an administration service. It will also be able to direct consumers who use the site to its member firms if they want more help.


Life companies understood to have signed up to the initiative include Zurich and CGU.


Anglo-Caledonian chief executive Iain MacKinnon says: &#34We will provide the back office and processing services. Consumers who want further independent advice will be directed to one of our member firms for advice.&#34


The Exchange head of consumer services Tony Macklin says: &#34We are working with First Global which will be an online IFA. It will sell term assurance at first, but there are a number of other products to look at.&#34


First Global chairman Howard Goldring says: &#34We will be launching very soon. It will be a very different way to buy term assurance on the internet.&#34

Recommended

Industry has vital role to play in long term care market

Royal Commission on long-term care chairman Sir Stewart Sutherland has told the insurance industry it has a vital role to play in ltc provision But he warned the Government that its failure to provide a clear direction could undermine the private sector.It came as health minister John Hutton promised a thorough Government review of the […]

Entrepreneurs seize chance for quick profit

Quick witted entrepreneurs are snapping up bargain price potential financial services internet addresses which could net them a fortune.They are picking up internet addresses, known as domain names, for as little as £45, aiming to sell them on to financial services companies and make huge profits.IFA Square Mile managing director Chris Dixon claims he is […]

CIB appoints NatWest chief exec as its new president

NatWest Group chief executive Derek Wanless has been elected president of the Chartered Institute of Bankers, succeeding outgoing president Mike Blackburn.CIB chief executive Gavin Shreeve says: &#34Over the last few years the institute has revolutionised the way it does business. It has shown that it is able to break with tradition, where it needs to […]

Bank branches set for further decline

The telephone and internet will over take branches as the most popular place for banking within the next five years according to the Financial Times.The FT says a report from the Chartered Institute of Bankers, due out today, claims bank branches will rapidly decline with only 44 per cent of customers using the branch in […]

The changing world of professional connections

The Legal Services Act of 2007, which opened up the legal market to competition, has put the cat among the professional pigeons. In the words of a 2015 Law Society report on what the legal profession is likely to look like in five years’ time: “Business as usual is not an option for many, if […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment