Difficult market conditions have forced Foreign & Colonial (F&C) to close down its intermediary sale...
Difficult market conditions have forced Foreign & Colonial (F&C) to close down its intermediary sales unit, with eight staff leaving the group as a result.
The layoffs include five regional salesmen, two of their assistants and one member of the group's marketing division. Jamie Farquhar, head of retail at F&C, said the move does not signify that the group is moving away from its retail operation as the revenue brought in by the three open-ended funds, Blue, With Prospects and Higher Income, is still very important.
F&C will continue to have a full broking service support team to look after intermediaries and other clients, he added.
Joined as head of strategy, multi asset, in June
Group income protection
Nine in 10 do not have income protection
Set to become part of Single Financial Guidance Body