Monday, 17 June 2013 10:42
Royal London to launch D2C proposition in 2014
Royal London is to launch its own direct to consumer proposition in 2014.
This will provide 70 new jobs and the range will include simple savings and protection products. These will complement its advised range of products.
The firm said the products would not require advice as it felt many people in the non-advised market would benefit from basic financial products.
Through acquisitions, the firm has brought total clients to over 6m and said many of these customers had previously been served by a direct salesforce. Acquisitions include buying the life insurance and asset management business of Co-operative Banking Group.
{desktop}{/desktop}{mobile}{/mobile}
Phil Loney, group chief executive at Royal London, said he hoped the new range would diversify the firm's customers.
He said: "The launch of our direct to consumer offering is another important step in driving our company forward and realizing our ambitious business strategy. These products mark a logical extension to the Group's overall offering and will help to diversify our customer base."
He reassured advisers that Royal London remained "fully committed" to the advisory market.
He said: "We are fully committed to the intermediary market and recognise the importance and value that advisers provide to clients with more complex financial needs.
"Intermediaries remain the most significant distribution channel for our business and we will continue to make significant investment to develop the highest standard of tools and resources that they require to service their customers."
Royal London operates through a number of brands including Scottish Life, Bright Grey, Ascentric, RLAM and Scottish Provident.
• Want to receive a free weekly summary of the best news stories from our website? Just go to home page and submit your name and email address. If you are already logged in you will need to log out to see the e-newsletter sign up. You can then log in again.
This will provide 70 new jobs and the range will include simple savings and protection products. These will complement its advised range of products.
The firm said the products would not require advice as it felt many people in the non-advised market would benefit from basic financial products.
Through acquisitions, the firm has brought total clients to over 6m and said many of these customers had previously been served by a direct salesforce. Acquisitions include buying the life insurance and asset management business of Co-operative Banking Group.
{desktop}{/desktop}{mobile}{/mobile}
Phil Loney, group chief executive at Royal London, said he hoped the new range would diversify the firm's customers.
He said: "The launch of our direct to consumer offering is another important step in driving our company forward and realizing our ambitious business strategy. These products mark a logical extension to the Group's overall offering and will help to diversify our customer base."
He reassured advisers that Royal London remained "fully committed" to the advisory market.
He said: "We are fully committed to the intermediary market and recognise the importance and value that advisers provide to clients with more complex financial needs.
"Intermediaries remain the most significant distribution channel for our business and we will continue to make significant investment to develop the highest standard of tools and resources that they require to service their customers."
Royal London operates through a number of brands including Scottish Life, Bright Grey, Ascentric, RLAM and Scottish Provident.
• Want to receive a free weekly summary of the best news stories from our website? Just go to home page and submit your name and email address. If you are already logged in you will need to log out to see the e-newsletter sign up. You can then log in again.
This page is available to subscribers. Click here to sign in or get access.