East Anglia-based Saffron Building Society has transferred its financial planning subsidiary, Saffron Independent Financial Advisers to Towergate Financial.
The decision followed a Board-level review at Saffron on the future for financial advice and, in particular, the forthcoming Retail Distribution Review (RDR). Three financial advisers and a paraplanner are moving across to Towergate, however, Saffron's mortgage sales will continue as normal with 70% of Saffron's advised mortgage sales delivered by external advisers. Saffron IFAs have delivered full IFA services to Saffron's members including investment options, retirement planning and taxation issues. Saffron Building Society, chief executive, Jon Hall said: "Saffron's objective wa...
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