Unprecedented growth rate in IFAs' market share

Philip Scott, group executive director of Norwich Union's UK life business, has predicted that the market share held by the IFA distribution channel is set to continue growing. Speaking at the Aifa's first anniversary conference and exhibition, Scott said the IFA sector had seen an unprecedented rate of growth over the past five years with market share expected to rise from 53% in 1999 to 55.5% in 2000, with a further increase to 56.3% in 2001 and 57.4% in 2002. Scott said IFA clients generally had a good understanding of the value of intermediary independence and place a high value on it...