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Friends Provident plans closure of direct sales force

Friends Provident is conducting a review of its UK distribution
structure that is likely to result in the closure of its direct sales force.

The cost-cutting measures are in anticipation of regulatory changes
that Friends believes will allow it to distribute more effectively through
the new types of independent and tied financial advisers allowed
under depolarisation.

Around half its advisers will be offered the opportunity to switch to
self-employed appointed representative status.

Friends is consulting with staff and Amicus on the outcome of the
review which is expected to be concluded on November 19.


FSA must find key to the timetable

The FSA&#39s work on reforming financial services can at times feel a bit like the Wembley stadium project.The architect&#39s grandiose plans are laid out in the various consultation papers.Then come the inevitable delays and the increasing costs. The latest delayed initiative, admittedly one set out unnoticed in the FSA&#39s roadmap for financial services several weeks […]

Income aim for Britannia Intl bond

Britannia International is planning a structured product for the IFA market which will offer income plus a full capital return.The offshore arm of Britannia Building Society says there is a growing demand within the IFA market for lower-risk income products. It says the product is unique as, unlike other capital-protected products, it is designed to […]

10 points to build trust in pensions

The ABI is placing reform of state pensions at the heart of a 10-point manifesto for change launched at the Labour Party conference in Bournemouth this week.ABI policy adviser Graham Vidler says the Government must reform the state pension to ensure the system is sustainable in the long term and to send the public the […]

More people will leave money to charity in their wills – Mori

In less than a year the number of people &#39very likely&#39 to leave money to charity in their will has doubled according to consortium Remember a Charity. The figure has increased from 7 to 8 per cent and represents £100m to charities according to Mori.

Neptune launches Japan Institutional Fund

By Chris Taylor, Investment Director, Head of Research Neptune is excited to announce the launch of the Japan Institutional Fund on 22 June, having disclosed to the market in March its intention to offer the product. The Fund will be managed by the highly-regarded Chris Taylor, Head of Research and manager of the long-running Japan Opportunities Fund. It will invest in the same underlying stocks as the Japan […]


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