View more on these topics

Misys only hits half its Colonial target

Misys is on course to recruit just 180 ex-Colonial franchisees despite targeting nearly twice that number, after facing stiff competition from other networks.

DBS is hoping to sign up some 40 RIs and little-known Newcastle-based network Positive Solutions is set to take on another 50.

Life offices Friends Provident and Scottish Amicable are also believed to be keen to recruit the salespeople.

Some 350 Colonial franchisees were left joblessearlier this month after Colonial Life was taken over by Winterthur Life in a£332m deal.

Misys says it cannot take all the franchisees because they do not have 12 months&#39 experience or full FPC status. It is currently doing com-pliance checks on suitable candidates.

Positive Solutions says it aims to cherrypick the best advisers by offering them state-of-the-art technology. It originally wanted as many as 100 Colonial RIs but lacks the resources to integrate so many at present.

The network currently has 110 RIs but aims to have 350 by the end of 2002.

Positive Solutions director David Harrison says: “Weare selectively recruiting between 40 and 50 of Colonial&#39s top people. We could not handle any more than that at this time.

“I would doubt that Misys will get half the number of people they want to. One limiting factor is the number of people who are suitable.”


Independent View

It has taken a long time but at last IFAs are being recognised for their true worth. I do not mean our value to society although I am sure we do help millions of people.What I am talking about is the clear recognition that an IFA is an extremely val-uable commodity to a distributor of […]

Society watchdog sees improving levels of service

The Building Societies Ombudsman says societies&#39 service levels have improved.The watchdog reports the number of complaints fell by 18 per cent last year to 5,929 from 7,309 in 1998.The number of complaints taken to investigation showed a dramatic fall of 41 per cent to 971 from 1,655 in 1998.In around two-thirds of the cases, the […]

Mission possible

Many IFAs will be looking long and hard at their business strategies in anticipation of key influences such as stakeholder pensions, new technology and demographic shifts.Often this requires a critical review of the company&#39s mission, vision and business objectives. To help facilitate this process, it may be helpful to define these expressions.Let&#39s start not by […]

On the zest of a wave

It would have been impossible to be an observer at PIMS 2000 without noticing that the mood was optimistic. The keynote speeches reinforced the optimism which delegates had brought with them.“Best year we&#39ve ever had” was a comment heard more than once and pointed to personal success reinforcing the message of favourable indicators. Delegates had […]

The return of emerging markets

Ewan Thompson, Head of Emerging Market Equities, Neptune Although in political terms 2016 will be remembered for the seismic shocks of the Brexit vote and Trump’s presidential victory, the year was also a watershed for the global economy and emerging markets in particular. Following five years in the wilderness, the conditions are now in place […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment