Canada Life is to launch a range of investment bonds with external fund links, according to Paul Whi...
Canada Life is to launch a range of investment bonds with external fund links, according to Paul Whitaker, chief executive of the group's IFA distribution channel.
The company will market a new wealth preservation proposition in the third quarter this year, which will include these bonds.
The provider is to restructure its sales team to focus on the onshore UK intermediary market. A more centrally run sales force will replace a regional sales force to market the bonds, new lump sum pension products and its existing suite of products, including Open Annuity, the group's flexible annuity product.
Instead of a sales force of 65 reporting to three regional sales directors and 10 sales managers, 60 account managers will now report to eight sales development managers.
No redundancies will be made, with any reduction in staff numbers achieved through employees retiring, according to Whitaker. The changed structure should enable Canada Life to better tackle changing market conditions, he added.
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