Foresters Friendly Society is to make a push into the IFA market, believing the time is right for mutuals to tap additional distribution channels.
Marketing director Neil Armitage says a lack of trust in financial services companies since the credit crunch could be a golden opportunity for friendly societies.
Foresters has employed two new staff to push its range of savings and protection products through the adviser distribution channel.
“We think some advisers’ clients aren’t going to want to deal with the risky products being offered by the banks, and that is where the sustainable model of friendly societies could become a real asset,” he says.
Foresters offers tax efficient savings plans, child trust funds, life insurance for the over 50s and sickness income cover.
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