Tied agent sector grows as direct sales decline
Article Abstract:
The number of tied financial advisors in the UK leapt by 26% in the year to the end of 1997, the first increase since 1992. However, the number of companies selling through the direct channel halved between 1992 and 1998 to just 28 firms, according to market research company, LIMRA Europe. There was also a drop in the number of life offices from 68 to 63, due to acquisitions and market mergers. The number of independent financial advisors stayed static at about 22,000 while direct sales staff numbers fell 19% in 1997 to below 18,000. Total sales people including broker consultants, sales associates and field managers totalled 56,070, a 2% fall since 1996 and a 52% fall from 1992.
Comment:
UK: Number of tied financial advisors leapt by 26% in the year to the end of 1997, the first increase since 1992
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
UK: Investors cautious about internet
Article Abstract:
Independent financial advisers in the UK are gaining new business from investors who are starting to turn away from the internet as a tool for making investments, according to a report from ComPeer for the Association of Private Client Investment Managers and Stockbrokers. In the second quarter of 2001, internet-based trading dropped to an average of only two per quarter, from nine at the peak of the dot.com boom in early 2000. Online trading tends to fluctuate with the stock market, but is likely to revive when the market picks up again.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
UK: THREAT TO IFAS FROM ONLINE SALES
Article Abstract:
Insurance business sold via direct marketing including the Internet, is set to rise from 4.1% to 16.6% according to a report published by research company, LIMRA, posing a threat to independent financial advisors (IFAs) and brokers. Director general of the Association of Independent Financial Advisors, Paul Smee claims good IFAs will continue to be needed for complicated matters such as pensions and complicated investments.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Terrified and hungry. Bombs versus butter. The Taliban dilemma
- Abstracts: Measuring the value of product characteristics in the UK monthly savings market. Maternity care: ways to add value
- Abstracts: The lesson nobody learns. Charlton Heston's tablets of stone
- Abstracts: AUSTRIA: FREE BEER BY OTTAKRINGER. Austria: Decline for brewing industry. AUSTRIA: DECLINE OF BEER CONSUMPTION
- Abstracts: CRTC extends telemarketing regs. Karisma lands four pharma accounts. Puma plays dress-up with the CFL