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Virgin on track for new pension sales

Virgin Money is targeting its products at travellers on Virgin Trains through a dedicated team of advisers.

The staff will be employed by Virgin Money rather than Virgin Trains and will initially sell credit cards at the sitting targets, with a view to extending to the company&#39s full range of products, including pensions and investments. Virgin is also consider targeting other captive audiences on its transatlantic flights.

Virgin says it has rejected ties with other financial services companies in the event of depolarisation to focus on its own unique distribution channel.

Virgin Trains has 29 million passengers a year, Virgin Atlantic has five million and its Megastores see three million people a week. It says Virgin Megastores are already seen as Virgin Money&#39s high-street presence and has staffed the stores with advisers for end of tax year Isa sales. Customers to its VShops can already access Virgin Money&#39s website via internet booths.

Virgin Money marketing manager Gordon Maw says: “This is a unique distribution channel for us. On the trains you can sit down and talk. There are obviously limits to this – someone flying into the sunset on holiday does not want to think about pensions.”

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