The end of polarisation will be replaced by some combination of direct salesforce and multi-tied agents.
IFAs are on their way out, at least as they exist today. They will be forced by the Treasury to adapt to some hybrid closer to multi-tied agents rather than retaining their independence.
I do not think stakeholder will reach the targets set by pensions minister Jeff Rooker and I foresee other life offices adopting the same position as Standard Life for endowments in matching any shortfalls that may come about.
Finally, I am not optimistic the regulator will find legs to stand on this year despite bold statements from the FSA and Treasury. This is because there are still some 60 pieces of secondary legislation to be passed through Parliament before N2 ever becomes a reality. You probably wouldn't get odds at Ladbrokes for N2 ever happening.