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Zurich offers joint tied and independent deal to IFAs

Zurich Financial Services is changing strategy in its bid to recruit IFAs to its advice network and is approaching IFAs with a joint independent and tied proposition.

Zurich IFA managing director Jim Reeve says Zifa and Zurich Advice Network are talking to IFAs jointly as part of a “holistic aligned distribution policy” as there will be nothing stopping IFAs tying only part of their business.

He predicts that products will no longer be the key differentiators between providers in the future as they will become increasingly standardised and will have fund links to the same fund managers.

He says service and assistance to advisers will instead become paramount.

Reeve says: “The difference between IFA, multi-tied and tied is going to be blurred and consumers will find it difficult to differentiate.”

An industry source says: “This is a major shift for Zurich. They are facing up to a reality faced up to by some other providers some time ago. Is this because it has had trouble recruiting into Zan?”

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