Legal & General is to offer customers of Bradford & Bingley access to its investment and protection products in a deal that will also see some 200 B&B "wealth advisers" transfer over to L&G.
The staff are set to remain in place at B&B branches, but will be employed as L&G staff as of 17 January, 2005. Coupled with the change, L&G intends to use depolarisation rules and its own fund distribution platform to offer access to “a wide range of leading fund managers.” ”The agreement will give B&B customers access to an extended range of wealth services including greater expertise in inheritance tax and retirement planning,” a statement from L&G says. B&B will gain commission on products sold through the new arrangement, while the cost cuts are estimated to save the company £...
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