View more on these topics

IFAs boost business at Britannic by 23%

Britannic Group&#39s new business through IFAs has jumped by 23 per cent to

£106m from £86m in the six months of this year compared with the

same period last year.

It says the growth in IFA business is due to the strong performance of

subsidiaries Britannic Retirement Solutions and Britannic Money.

Annuity specialist Brit-annic Retirement Solutions sold £55m-worth of

new business, virtually all of it through IFAs, while 80 per cent of

flexible lender Britannic Money&#39s £400m in new business was conducted

thr-ough IFAs.

The group&#39s Glasgow-based asset management business Britannic Asset

Management increased business to £131m from £124m but the IFA

side fell by 39 per cent to £40m from £65m. Britannic says this

is largely due to poor market conditions which have seen many investors

avoid equities.

The growth in sales of unit trusts and Isas is due to the strategic

relationship the group signed with Britannia Building Society.

Britannic chief executive Brian Shaw says: “These are strong results

despite the challenging market conditions. They are also the first results

following our rebranding programme and the res-tructuring taking place at

Britannic Assurance.

“They show the shape of our new group and the str-ength and momentum

particularly of our new businesses and our broadened range of distribution

channels.”

Recommended

Pension offices cause waiver waves for IFAs

Some of the UK&#39s biggest stakeholder providers are being criticised byIFAs who claim that their stance on waiver of premium is blocking business. Some life offices, including Norwich Union and Standard Life, are refusingto allow employers to contribute to waiver in the new tax regime, saying anentirely new policy should be set up outside of […]

Scottish Mutual – Income and Growth Plan

Monday, 16 July 2001.Type: Stocks and shares mini or maxi Isa.Aim: Income and growth by investing in Census investments 24, a Dublin-based investment company.Minimum investment: £7,000.Maximum investment: Direct investment £500,000, Isa £7,000.Catmarked: No.Investment choice: Census investments 24.Yield: Either 10 per cent a year, 2.4 per cent a quarter, or 31 per cent after three years […]

Liverpool Victoria strengthens presence in affinity market

Liverpool Victoria is acquiring specialist provider of financial services and independent financial advice to the affinity sector Bishopscourt Financial Holdings for an undisclosed sum.The life office says the purchase provides it with an accelerated consolidation of its presence in the affinity market.Bishopscourt Financial Holdings chairman Mike Rutherford and group managing director Chris Wacey will join […]

The Daley Update

Aberdeen Asset Management continued its acquisition drive by buying Ivory& Sime Asset Management for £6.1m from Friends Ivory & Sime. Oncompletion of the deal, Aberdeen will also pay the value of the net assets,estimated to be around £2.1m, as well as an extra £1m on thesecond anniversary if funds under management exceed those at completion.Isam […]

Directors, limited liability partners and auto-enrolment

By Jim Grant, Senior Product Insight & Technical Support Analyst 6 April 2016 brought in changes to employer duties for directors and partners in limited liability partnerships. Here we explain exactly what’s changed. Before 6 April 2016… Directors of limited liability companies where there were no other directors or employees were exempt from the employer […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment