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Pos Sol conference: Bullish Reeve says firm will beat banks and transform industry

Incoming Positive Solutions chief executive Jim Reeve gave a bullish speech at the firm’s annual forum suggesting the banc assurance model will fail to serve the mass affluent market while Pos Sol will “transform this industry”.

Reeve told over 1000 advisers, at the Pos Sol Annual Partner Forum at the Birmingham ICC, the firm’s greatest achievements were yet to come and suggested providers will soon be designing exclusive products to be distributed through Pos Sol.

Reeve, who spent 25 years working at Zurich before joining Barclays in 2004, said the sort of business model he worked for in the past is likely to fail in serving the mass affluent market while Pos Sol will succeed.

Reeve said: “I believe our greatest achievements are yet to come, together we will transform this industry and achieve the most client focused financial business the UK has ever seen.

“Providers will be desperate to do business with us as no other distributor will be as profitable for them as Pos Sol, leading to exclusive products and services for our partners.”

Reeve praised the strength of the relationship between the firm and its partners saying this bond was epitomised by the recent episode where over 100 partners wrote in to complain to a trade newspaper after it printed an inaccurate article about the firm.

Earlier in the day the firm set out plans to float in 2009, depending on market conditions, with qualifying partners set to receive a share of the 40 per cent of any sums over the £200m already allocated to shareholders.

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