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Pru and SimplyBiz in protection tie-up

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Prudential Financial Planning has agreed a panel arrangement with SimplyBiz that will see it offer protection products from eight providers as it moves forward with plans to expand its advice arm.

Prudential previously only offered protection products from one provider, Vitality.

Through the panel Prudential advisers will have access to policies from AIG, Aviva, Legal & General , LV=, Royal London, Scottish Widows, Vitality and Zurich.

Prudential goes after 30 more advisers

Prudential Financial Planning chief executive Chris Haines says the panel agreement is part of the plan to widen Prudential’s advice offering.

In September it revealed it would increase the number of advisers to 330 by the end of the year.

Haines says: “We are a fast-growing business and aim to become one of the leading providers of financial advice in the UK. This agreement with The SimplyBiz Group is an important development for Prudential Financial Planning and highlights how we are determined to grow our business.”

SimplyBiz Group joint chief executive Matt Timmins says: “Prudential Financial Planning’s decision to use our protection panel is really positive news for the Group, Prudential Financial Planning’s advisers and, most importantly, their clients.”

In August, Prudential announced plans to merge its asset manager M&G with its wider UK and Europe business. The new business is to be called M&G Prudential, and will manage more than £332bn of assets as it stands.

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