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Woolwich may sell via brokers

Woolwich is considering launching its life and investment products into the IFA market for the first time.

Woolwich Life and Woolwich Unit Trust Managers started investigating a move into the IFA sector last month as part of a review of distribution.

Both companies&#39 products are currently only available through Woolwich branches.

Woolwich general manager (branch distribution) Ian Bullock says: "IFAs are obviously a choice which we should look at as a method of alternative distribution.

"Woolwich Life and Woolwich Unit Trust Managers are now established in the market and we are looking at expanding their businesses. One of these opportunities is to expand into the IFA channel."

According to Bullock, Woolwich could launch into the IFA market later this year, if the bank decides to extend its life and investment dis tribution.

Woolwich Unit Trust Managers was set up in 1991 and had £980m funds under management at the end of last year. Woolwich Life was set up in 1990 and had £185.9m in its life managed fund at the end of 1997.

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