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Pru draws up multi-ties for burns-anderson and tenet

Prudential has made multi-tie deals with independent IFA networks Burns-Anderson and Tenet Group.

Pru is helping both firms with the design of their multi-tie propositions although neither firm is committing to a date to announce their plans.

Burns-Anderson chief executive officer Mike Hughes says the focus for the near future will be to continue to help advisers understand their options and to educate those interes-ted in multi-ties to understand what it involves. He says laun-ching a multi-tie proposition is not an urgent priority.

Tenet chief executive Simon Hudson says the main thing that any IFA network must be aware of before putting together a multi-tie proposition is the benefit to consumers. Once this has been established, the focus can be put on making it attractive to the relevant distribution groups.

Hudson says Tenet and others will not rush to bring their propositions to market. He does not believe that IT systems can cope with depolarisation.

Tenet provides services to about 3,500 IFAs and Burns-Anderson has 250 registered individuals and plans to expand this year.

Hudson says: “I have not yet seen anyone come out with a compelling proposition that considers the consumer. We will deliver a proposition that we can be sure works.”

Hughes says: “Having a strong multi-tie is pivotal to securing further growth opp-ortunities for our business.”

Prudential UK distribution director Andy Briggs says: “Prudential continues to be at the forefront of shaping distribution and providing sound business solutions for intermediaries.”

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