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Supermarts pose bigger threat than the banks

Supermarkets could be more of a threat to IFAs than banks after depolarisation, warn marketing experts.

Although high-street banks such as Barclays are already gearing themselves up to operate in a multi-tie environment, Sesame marketing director Stewart Gitsham said: “I think we should feel more threatened by brands like Tesco rather than the banks.”

Gitsham believes if supermarkets decide to set up multi-tied salesforces they will win consumers over more quickly than banks because people trust their brands.

But Technology and Technical Financial Consultancy founder Kim North disagreed, saying the industry had expected Marks & Spencer financial services to fill this niche but this had not happened.


CML fears firms trading on after authorisation refusal

The Council of Mortgage Lenders has raised concerns that brokers will be able to continue trading after they have been refused authorisation. The Treasury has revealed that mortgage firms which fail the authorisation checklist will still be allowed to continue dealing with clients until their appeal is complete. Once a firm has been refused authorisation, […]

Summing up in L&G fine appeal

Legal & General&#39s appeal against a £1.1m fine from the regulator for alleged endowment miselling will end this week following summing up from both the FSA and the insurer&#39s legal teams. L& G denies systemic miselling.

Rubbish data in, rubbish data out

The problem with life offices&#39 TVAS reports is not the TVA systems that the life offices use but the data that they put into them. It is a case of rubbish in, rubbish out,I&#39m afraid. Those responsible for the data, or at least checking it&#39s within the bounds of common sense – which means not […]

Pru to pick up 25% of Sesame and Millfield business with tie

A quarter of Sesame and Millfield&#39s business will be transacted with Prudential through its multi-tie arrangements, says group chief executive Jonathan Bloomer. Pru has raised £1bn through a rights issue to provide it with a war chest to build tie-ups and fund the expansion of its UK business. It is looking to add to its […]

Partied out and penniless

December has left me destitute. My piggy bank lies broken and empty, my lunchtime meal deal feels like an extravagant expense and I’m down to the Bountys in my box of Celebrations. But I won’t mourn my dearly departed pennies. Between buying gifts for loved ones (then deciding to keep them for myself) to treating […]


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