Multi-channel distributor Thinc has signed its first multi-tie agreement with Friends Provident.
Thinc members will have access to Friends' term insurance and critical illness protection products and will be provided with a complete online quotation and new business service including automated underwriting.
Thinc and Friends will work together to provide training and technology support for the advisers.
The two firms believe IFAs are making decisions on their distribution strategy for protection products first and will then move on to dealing with investment and pension products.
Friends already has multi-tie agreements with Sesame, Bankhall, The Lighthouse Group, St James's Place and Countrywide.
Thinc chief operating officer Simon Chamberlain says: “The future of financial services in the UK is dependent on a close working relationship between product providers and the effective distribution models. We believe Friends Provident has one of the best consumer names in the marketplace, which complements Thinc's own strategy to become the predominant national brand for advice in the UK.”
Friends Provident director of UK distribution Simon Clamp says: “We are delighted with this announcement. Thinc is a fast-growing success story and we look forward to working closely with them over the coming years for our mutual advantage and to the benefit of their clients.
“The agreement is further recognition of our high standing as the pre-eminent provider in the protection market in respect of price, service and the use of effective technology support.”