Posted on Monday 25 June 2012 by Ulster Business
First Trust has agreed a partnership with life insurance and pension provider Legal & General. Pictured announcing the tie up are David Carrick, Sales Director, Legal & General; Chris Andrew, Head of Sales, L&G; Brian Hunter, Head of Financial Services, First Trust Bank; Gerry McGinn, Managing Director, First Trust Bank.
The move follows a review of the Bank’s financial advice service in preparation for the Financial Services Authority’s Retail Distribution Review (RDR) and will launch on July 4.
Explaining the partnership Brian Hunter, Head of Financial Services at First Trust Bank, said:“There is a growing concern that the imminent changes brought about by the FSA’s Retail Distribution Review may reduce affordable access to financial advice for customers and a number of other Banks have already announced their intention to withdraw from offering financial advice. Today’s announcement sends a clear message that First Trust Bank is maintaining this important service to its customers through an alliance with a well recognised and trusted brand.
“Existing customers of our Independent Financial Advisers (IFAs) will not be impacted by this change, as a team of IFAs will continue to provide service to them, as well as meeting the needs of our Private Banking clients.”
Chris Last, Managing Director, Legal & General Bank & Building Society Distribution added: “We are delighted to be partnering with First Trust Bank to deliver their Retail Distribution Review proposition. Legal & General has worked closely with the Bank to understand their business model and objectives in order to deliver a bespoke solution to meet their needs. With our support, their full time employed sales force will be delivering a range of attractive and competitive Legal & General products and services for the benefit of their customers, now and after RDR implementation.”