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Home > Business/Finance > Financial Services > Financial Management
UK Independent Financial Advisors 2001
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May 2001
Published By:
Datamonitor
Page Count:
176
Order Code:
R313-0033
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INTRODUCTION
What is this report about?
Who is the target reader?
How to use this report
ACTION POINTS
MARKET CONTEXT
Introduction
Key findings
IFAs in the distribution of life and pensions products
IFAs in the distribution of annual life products
IFAs in the distribution of single life products
IFAs in the distribution of annual pensions
IFAs in the distribution of single pensions
Pension annuities and income drawdown
Pension annuities
Income drawdown
Group life and pensions
Regular premium group products
Single premium group products
IFAs in the distribution of investment products
IFAs in the distribution of unit trusts and OEICs
IFAs in the distribution of investment trusts
IFAs in the distribution of ISAs and PEPs
IFAs in the distribution of other types of ISA
Alternative distribution channels
Bancassurance
Direct salesforce
Tied agents
Direct
CUSTOMER FOCUS
Introduction
Key findings
Key reasons for the strong performance of IFAs
Value-added advice
Increasingly complex personal financial needs
Pension mis-selling/endowment shortfalls - not us!
Changes to the structure of product distribution
The structure of the IFA market
Customer relationships in the IFA channel
The IFA as the customer
Higher levels of customer service
Greater consultation and development of long-term relationships
Changes in product distribution
Introduction of a standard electronic trading platform
Remuneration
Selling advice not products
Less initiatives, more action
Greater product provider staff training
The IFA client as the customer
Investment performance
Financial strength
The IFA channel's Top Ten List
COMPETITOR DYNAMICS
Introduction
Key findings
Life and pensions providers and the IFA channel
Total life and pensions IFA market dominated by the leading ten players
Standard Life and Scottish Provident lead distribution of annual life products
through the IFA channel
Annual life market share through the IFA channel
Single life business continues to grow through the IFA channel
Single life market share through the IFA channel
Standard Life continues to lead IFA annual pensions market
IFA annual pensions market remains fragmented
Excellent growth for Friends provident in the IFA single pensions market
Standard Life lead single pensions distribution through IFAs
Attractions for life offices of distributing through IFAs
Marketing life and pensions products to an IFA
Provider's financial strength
Product quality
Support and training
Brand
Investment product providers and the IFA channel
Market share of retail investment providers through the IFA channel
Attraction to investment products distributing through the IFA channel
Marketing investment products to an IFA
Financial strength
Attractiveness of individual products
Support and training
Brand
THE FUTURE DECODED
Introduction
Key drivers
Current position persists beyond April 2001
Scenario forecasts
Pessimistic scenario - survival of the fittest as IFAs face increasing pressures
Neutral scenario - steady IFA growth, direct distribution the new threat
Optimistic scenario - IFAs become distributors and providers
Polarization rules withdrawn
Pessimistic scenario - everything goes
Neutral scenario - best of both worlds?
Optimistic scenario - the strength of independence of advice
APPENDIX
Research detail
Methodology
Definitions
Life insurance
Premium payable in a single lump sum.
Premium payable on a regular basis.
Individual long-term insurance
Corporate pensions
Additional contributions paid voluntarily into separate personal pension
policies by employees in occupational schemes who wish to top up their pensions,
but keep the money distinct from the occupational scheme.
Retail investment funds
Distribution channels
Further reading
Bibliography
Wider readings
Relevant links
Contacts
SPP writing team
How to contact
(c) Datamonitor 2000. All Rights Reserved.
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