Article date: 20 January 2003
Responding to today’s publication of Consultation PaperCP166 by the FSA entitled ‘Reforming Polarisation –Removing The Barriers To Choice’, Peter Hales, sales &marketing director at Norwich Union said:
“This Consultation Paper is an important step forward andshould lead to improved consumer choice.
“It also opens up opportunities for IFAs to be bettercapitalised, with appropriate disclosure. The Paper seeks to enableproviders, particularly in the area of technology, to work moreclosely with advisers. We firmly believe that technology is the keyto driving through business efficiency.
“It is encouraging to see the FSA supporting IFAs throughits decision to opt for the ‘menu’ approach. Thisshould enable IFAs to choose an operating model that suits theirclients, and their own firm’s business circumstances.
“We look forward to working with the Government to helpensure the proposals are taken forward in tandem with otherregulatory change.”
Notes for editors
- Norwich Union is the UK’s largest insurer. It is theUK’s largest provider of life, pensions and investmentproducts and one of the leading IFA providers. IFAs provide around75% of the company’s long-term savings business.
- Norwich Union has strategic alliances with building societiesand other leading UK brand names including Tesco Personal Financeand The Royal Bank of Scotland Group.
- Norwich Union’s news releases are available on the Avivaplc website at www.aviva.com
- A selection of images is available from the Norwich UnionNewscast site at www.newscast.co.uk
Press office contacts:
James Evans, Norwich Union Life 08703 66 68 78
Out of hours 07790 487105
Ian Beggs, Norwich Union Life 08703 66 68 71
Out of hours 07790 487533
Louise Goffee, Norwich Union Life 08703 66 68 70
Out of hours 07810 057362