Deutsche to expand IFA sales force

Deutsche Asset Management is boosting its sales team to deliver an improved service to IFAs, writes Jenne Mannion.

As part of those enhancements, Deutsche has established a telephone sales team, which is headed up by John Croft, formerly of M&G.

The telephone sales team of three is responsible for developing business with IFAs, which is complementary to the service offered by five regional sales managers, as part of a team managed by Graham Bowden.

The size of this telephone sales team is expected to expand to six within 12 months and Neil Jones, acting managing director at Deutsche's unit trust arm believes the unit will generate some £200m gross sales per year through IFAs, within two years.

Jones is also looking to recruit a salesman who would be responsible for third party links. On the regional sales side, John Tevenan this week joins Deutsche from Scottish Equitable Investment Management and will be responsible for South East regional sales, reporting to Graham Bowden. Another regional sales appointment is expected to be announced next week.

Deutsche has now put in place a discount on its Pep and Isa range reducing initial charges to 3.25% with 3% commission.

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