Wraps proving 'immune' to sales slump

In a fresh swipe at life offices, Ferguson says the current economic downturn is presenting a "multitude of opportunities" for wrap providers, adding the traditional life company business model "is no longer an option" for consumers. He believes models of the future will instead be based on transparency and honesty. "The wrap market is finally gaining some momentum and largely seems to be immune from this year's slump in IFA sales," he says. "Whether the legacy institutions have the culture and the market understanding to be successful in this market is another matter - moving from...