Pearl’s victory in the battle for Resolution has been broadly welcomed by advisers.
Closed life insurers have been criticised from advisers over their speed and willingness to give out policy details and client information.
But Syndaxi Financial Planning managing director Robert Reid believes Pearl is more committed to treating customers fairly. He says: “Resolution is somewhat difficult to deal with but Pearl has the attitude that they need to improve service. Perhaps Resolution’s service will improve as a result.”
Advisers say that they had concerns over a potential deal with Friends Provident or Standard Life but Pearl represents a good match.
Richard Jacobs Pensions & Trustee Services director Richard Jacobs says: “Pearl and Resolution are a new breed of predator and suit each other admir-ably. When I first heard about Friends’ bid for the firm, I stop-ped giving business to them because I did not want to see a good client-centred insurance company merging with Resolution because they have shareholder priorities at heart.”