Friends Provident, the Life group that floated last month, blamed the 12% decline in its share price...
Friends Provident, the Life group that floated last month, blamed the 12% decline in its share price on independent financial Advisors, the Daily Telegraph reports. The life group claimed that IFAs pulled back from placing clients ahead of the flotation. Keith Satchell, chief executive of Friends Provident said, "IFAs were generally standing back to wait to see what happened. Now that we have floated, we have the platform to improve sales and move forward." After yesterday's High Court ruling, around 43,000 people will receive compensation for pensions mis-selling even if th...
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