View more on these topics

ZAN plan to go multi-tied

Zurich Financial Services is moving to completely remodel and rebrand the Zurich Advice Network to become a directly authorised multi-tie distribution business.

Speaking to Money Marketing last week, global chief executive of the life business Paul van de Geijn, who took on the role five months ago, says the UK life business will be split into two parts – manufacturing and distribution.

ZAN, which encompasses the former Allied Dunbar salesforce and is one of the UK&#39s biggest tied agency networks, will be overhauled with a view to it becoming a directly authorised, multi-tie distribution business, operating autonomously of the bigger group.

The manufacturing side will focus on only the most profitable and effective product lines within Zurich, with van de Geijn saying it will seek out exclusive arrangements with other providers for best-of-breed products in a bid to give advisers more product lines to offer.

He says the new-look ZAN will be up and running by the end of the year.

ZAN has 3,800 advisers operating on a franchise basis who will become “partners” in the new business, with options for providing this partnership, including a public listing, giving advisers ownership stakes or a joint venture with them. It says it currently has no plans to merge Eagle Star and Allied Dunbar but it is one of the options being considered.

Van de Geijn says: “It responds to any perceived lack of clarity and commitment to the UK life market. The IFA world is moving to multi-tie ground and this is our answer to what we think depolarisation will cause.”

Direct Life and pensions sales and marketing manager Richard Verdin says: “Finally there is an acceptance from one of the biggest tied agent insurers that customers really want choice.”


Stronger Equitable hands out bonus

Equitable Life with-profits policholders are to get interim bonuses and the company says it is in better condition than at any other time in recent years. Equitable is carrying out a strategic review into its long-term future, which is believed to include the aim of going back into equities and the option of being put […]

County Mortgages – No Income Declaration Mortgage

Type: Self-cert tracker mortgage Tracker term: Lifetime of loan Tracker rate: Up to 90% of valuation &#45 1.99% above Bank of England base rate, up to 85% of valuation &#45 1.74% above Bank of England base rate, up to 75% of valuation &#45 1.49% above Bank of England base rate Minimum loan: £25,001 Maximum loan: […]

Wise Investment – Wise Active Growth

Type: Oeic fund of funds Aim: Growth by investing in collective investment funds Minimum investment: Lump sum £1,000 Investment split: 30% UK equity, 21% UK growth, 20% managed mix, 10% European equity, 10% UK equity income, 8% Japanese equity, 1% cash Isa link: Yes Pep transfers: Yes Charges Initial 4%, annual 1.65% Commission:Initial 3%, renewal […]

Regulatory &#39creep&#39 under scrutiny

The Cabinet Office is conducting a review into the Financial Ombudsman Service in addition to that already being carried out by the Treasury as part of its two year review of the Financial Services and Markets Act. The Cabinet Office&#39s Better Regulation Task Force is looking at the function of the FOS as part of […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm