Only two months after Scottish Friendly axed its sales force the mutual society has praised the role...
Only two months after Scottish Friendly axed its sales force the mutual society has praised the role of intermediaries as a primary influence boosting first half growth.
Noting an overall increase in new business to £8.3m, a rise of 16%, including a 35% increase in IFA led sales - up to £739,000, which it attributes to its increased marketing activity to IFAs. Direct sales to consumers grew by a fifth to £7.1m.
SF, which offers insurance ISAs is only one of a few societies providing such a product. Its Bonus ISA has proved particularly popular to date with sale of £1.4m. SF says the investment has proved a winner with low risk profile investors.
Chief executive of SF, Bob Thomson said: "We are still a relatively small player in the financial services sector, but a major part of our success in attracting new business has been our continued strong 'with profits' performance."
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