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IFA dominate Peps sales for first quarter 1999

IFAs won 40 per cent of Pep sales in the first quarter of 1999 according to figures released from IFA Promotion.


The final dash for Peps saw IFAs record Pep sales of £1.95bn of the total£4.88bn Peps sold during the quarter compared to last year when IFAs wrote 31 per cent of the Pep total.


IFAs continued to dominate the industry in terms of market share for sales of investments and insurance products. The IFAP figures show IFAs cornered 59 per cent of the total market in the first quarter of 1999 compared to their main rival company agents, who achieved just 28 per cent of the market.


Actual sales in the first quarter of 1999 were up by 47 per cent on the same period last year to £10bn from 6.8bn last year.


This compares to a 23 per cent increase in sales for company agents to £3.8bn from £4.7bn and a 21 per cent increase for direct sales to £1.5bn from £1.2bn on the same period last year.


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