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Lifetime chief calls for trade body for wraps

The wrap industry needs a trade body to give it a voice in financial services policymaking, says Lifetime chief executive Jeremy Bradburne.

He wants the main players to form an organisation to lobby the Government and co-ordinate activity to promote the fast-growing business channel.

Bradburne says: “The wrap industry needs to find its voice. It would be a great idea if the main players got together as a body to work on common interests.”

Abbey head of wrap propositions Holly Mackay backs the call and has been in talks with other providers about the viability of such a venture.

Mackay says it should be a two-pronged process, with one group to look at issues such as technology, legacies and common standards and another body dealing with regulatory issues, with FSA involvement.

Skandia investment marketing manager Ian Thomas agrees in principle but says issues such as commercial sensitivity would need to be looked at carefully. He also says a trade body may overlap with the ABI and suggests it may be better for any organisation to be run through the ABI.

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