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Partnership seeks LTC tied deals

Partnership is looking for tied distribution of its long-term care products and says it would “bite the hand off” any banks offering distribution arrangements.

Partnership currently has 80 per cent market share in the immediate needs annuity space which are used to fund long-term care. Axa is another serious player but there are only around 5,000 advisers qualified to sell such products.

The firm appointed Chris Horlick, formerly of Axa, to the newly created position of managing director of care this summer.

Since then, Partnership, which owns a stake in specialist long-term care IFA Eldercare, has been discussing ways to boost sales through tie-ups with other firms.

Marketing director Kevin Sweet says: “What we are doing at the moment is looking at every way we can develop the business generally and care is a key strand for us.

“If a bank came to us and said we would like a tied arrangement for all our sales people to sell care, we would bite their hand off.

“We are talking to as many people as we can about how we can mutually benefit from the opportunity that care provides. We are talking to anybody and everybody but it is early days.”

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