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SLFoC targets IFAs with new network

Sun Life Financial of Canada is entering the IFA market with a new network as part of a £100m restructuring of the group.

The company&#39s plans to move into the IFA market were first reported by Money Marketing in June.

The restructuring will also see the life office launch a new group personal pension plan and a critical-illness plan and establish an external fund link with Newton Fund Managers, which will replace Sun Life&#39s existing UK investment arm, SLC Asset Management.

SLFoC says the IFA network will start operation next spring followed by a direct marketing push later in the year.

The network will be part of the group but will be a free-standing company.

SLFoC hopes to attract 100 IFAs immediately and increase this to 300 in the next four years.

It is looking to recruit IFAs who are already part of other networks or direct salespeople wanting to become independent advisers.

SLFoC is also expanding its technical support and customers services divisions. A new IT administration sys-tem, Lamda, has been designed for the company to support its life and pension business, with the aim of stream- lining its sales processes.

Corporate affairs manager Paul Riddell says: “The launch of the new network is an exciting venture for the group. Not only will it provide our financial consultants as they develop their careers with the company but it also stres-ses SLFoC&#39s belief in face-to-face advice.”

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