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Survey shows IFAs look for strength

Over half of IFAs would reject a financial product if they thought the provider was not financially strong enough to provide support.

Research from MetLife aimed to find what advisers are looking for from product providers entering the investment and retirement planning market.

Fifty-four per cent say they disregard certain products because they believe the provider is not financially strong enough to support them.

Seventy-nine per cent of advisers say provider financial strength is important to their clients and 84 per cent say this is even more important for business in the high-net-worth investment product sector.

In the Sipp and trustee investment plan market, the poll shows that provider financial strength is important to 56 per cent of IFAs.

MetLife chief operating officer Paul Shallis says: “Financial strength remains a key criterion for IFAs and their clients. Changing pension legislation is promoting product innovation but new thinking needs to be underwritten by financial security, especially if providers intend to offer guarantee features.”

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