Becoming your choice of offshore provider and keeping our promises
One of the biggest problems facing distributors today is confidence. How much confidence can you have in offshore providers? Confidence that we will be around in the future. Confidence that we are a good working partner for you. Confidence that we are the best recommendation you can make for your clients.
In this climate of uncertainty, the company you recommend and its future longevity can seriously affect your reputation and make a significant difference to the future of your business. What criteria should you use to evaluate the companies you recommend?
To start with you might look to the past - the company's track record. But we all know that past performance is not an indication of future performance, so naturally you would look at the current status of the company and how robust it is. You can get a good picture of the company, but let's face it, it is the future you are interested in. How can you best evaluate something that has not happened yet? Quite simply, by the promises the company makes and its commitment to keeping them.
In 2001 Friends Provident, our parent company, stated categorically that it was firmly committed to growing international business. This parental support was proven in 2002 with the acquisition of Royal & Sun Alliance International Financial Services (RSAIFS) and reaffirmed in 2004 with the acquisition of Lombard International Assurance SA, based in Luxembourg. Both of these acquisitions will help to ensure that international business represents 35% of Friends Provident's business in 2005. A statistic that speaks volumes for our commitment to your markets and a promise kept.
In 2003, we stated that we would focus on developing our key markets. As a result in 2004 we opened an office based in the Dubai Airport Free Zone Authority (DAFZA) with a mix of senior staff and a support team. The office is now fully established and has rapidly become the hub of our operations across the Middle East. In line with this same promise, we strengthened our presence in the Far East region in 2004 by moving our Hong Kong office to larger premises and recruiting more staff who are knowledgeable about Hong Kong and the wider region. Another promise made and kept which we intend to build on in the future.
In recent years we have focused on building strategic partnerships. After successfully setting up a strategic partnership with Riyad Bank, we have also set up agreements with the National Bank of Abu Dhabi, and Bahrain-based Solidarity, with a number of other developments in the pipeline. Building strong relationships with our strategic partners is paramount to the success of our business, and something which we will do a lot more of in the coming years. With this commitment in mind, we now have a senior management dedicated to building strategic partnerships. Another promise made and kept.
Our track record is testament to the fact that we keep our promises and deliver our strategy. Looking to the future, our strategy is a firm commitment to the international market place. We aim to make life easier for all of our distribution partners, through a broad product range, excellent fund choice and a dedication to an ever-improving service. We are committed to doing all we can to become your choice of offshore provider now and in the future.
£92bn transferred since 2015
Achievements, charity work and other happy snippets
Since first announcement