Friends Prov AR channel to close by end of year

The move, which was announced internally yesterday and to the public today, will take place between now and the end of the year, and will affect around 90 roles within Friends Provident, with some redundancies expected, although not the full 90. Friends Provident says its decision to close the AR channel reflects recent changes in the market evolution, as although 80% of its life protection business is transacted through the IFA market, increasing levels of business are flowing from banks and building societies, which it says plays to the strengths of its distribution profile. Simon C...