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Origen partners with Clydesdale and Yorkshire on advice

Clydesdale and Yorkshire Banks’ business and private banking customers will be referred to Origen for financial advice as part of a new deal.

Origen will provide advice and services to Clydesdale and Yorkshire’s business and private banking customers throughout the UK, including corporate and personal pensions, investments, protection and retirement planning.

Clydesdale and Yorkshire business and private bank director Paul Shephard says: “This is a really positive step in enhancing our customer focused strategy and is a key additional benefit to our overall business and private banking proposition.

“Our customers will gain access to a wealth and financial advice market specialist offering a wide scope and range of investment, pension and protection products, investment and pension research.”

Origen chairman and interim chief executive officer Rob Waller says: “I am absolutely delighted we have been chosen as the referral partner to Clydesdale and Yorkshire Banks.

“Part of our post-RDR strategy is to expand through long-term partnerships with large, trusted organisations where the delivery of specialist advice becomes non-core. Our selection by Clydesdale and Yorkshire Banks reaffirms the confidence large organisations have in our ability to support and complement their business models.”

Clydesdale and Yorkshire Banks stopped offering advice through its business and private bank divisions in March, resulting in the loss of 130 jobs.

The banks closed its in-branch retail advice service in April after Axa closed its bancassurance arm. Axa previously partnered with Clydesdale and Yorkshire on investment advice, but closed its bancassurance arm saying it would have had to charge a 6 per cent advice fee in order to deliver advice profitably.

Clydesdale and Yorkshire says it still has no retail advice partner and has no plans to replace Axa.

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. 6% advice fee? Or was this a cost base that is out of control? If not, how are Origen going to be able to deliver a service to these customers?

  2. I love the Clydesdale Bank, they really care about here.

    Paul Shephard, director of business and private bank at Clydesdale & Yorkshire Banks, said: “This is a really positive step in enhancing our customer focused strategy and is a key additional benefit to our overall business and private banking proposition.

    “Our customers will gain access to a wealth and financial advice market specialist offering a wide scope and range of investment, pension and protection products, investment and pension research.”

    Erm….didn’t your “valued” customers have access to a wealth and financial advice market specialist offering a wide scope and range of investment, pension and protection products, investment and pension research?

    Yes they did….then you sacked them all !!! (and then signed a deal with a company that are losing money daily, whose CEO stepped down for some ill judged comments, and who will only get out of bed for investments of £100K plus or clients earning £75K or more)

    Nice one Paul!!!

    You is da man.

  3. I’m not sure it’s a concern for Origen as I don’t think they’re planning to service anyone who isn’t a private or business banking customer.

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