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GE Life axes DSF in IFA-only move

GE Life is closing down its direct salesforce, which sells equity-release income plans, to distribute solely through IFAs.

It says it has made this move as planning for income retirement is a complex area where people need advice to get the best from their assets and its salesforce of 30 only accounts for 10 per cent of its distribution.

The life office is also closing its head office in Dorking following its integration with National Mutual in April to move to Hitchin, Hertfordshire.

There are 200 staff in Dorking and GE Life says it hopes there to be job opportunities for them in the new office but admits there may be some losses although it cannot yet say how many or who will be hit.

GE Life managing director David Evans says: “We are consolidating all head office operations in Hitchin. We have already established five regional offices, and focusing on one head office in Hitchin, which offers better facilities than the offices in Dorking, and will allow us to become a more tightly focused business.”

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