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Intermediaries’ support saves the ScotProv brand

The Scottish Provident brand is here to stay because intermediaries want it and it is generating business.

Abbey says the new business coming from Scottish Provident and positive research with intermediaries indicates that it would be foolish to drop the brand.

The company admits it had plans to phase out the Scot-Prov brand as well as theScottish Mutual name from September 2003 but it has changed its mind because of ScotProv’s success.

Scottish Mutual is closed to new with-profits business but the brand is still used for some bonds and pension business.

Direct Life and Pensions sales and marketing director Richard Verdin says the decision is particularly popular among advisers who often sell both Abbey mortgages and ScotProv protection products.

If the ScotProv brandwere scrapped, advisers could be reluctant to sell products that would make them not appear whole of market.

Verdin says: “From a business perspective, it is a very sensible decision.”

Abbey head of media relations Christina Mills says: “The view has changed as a resultof business doing well underthe brand, so there are no plans now to ditch the name.”

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