Widows and Clerical Medical IFA sales down 29%

The fall in overall sales was primarily driven by a reduction in individual pension volumes which reflected current economic conditions. Demand for life bonds also fell, as consumer confidence in equity-backed products slumped.   Lloyds' combination of the Scottish Widows and Clerical Medical sales forces in the first half of 2009 also had a big impact on sales.  "However this is now complete and the combined business is well positioned for future growth," the group says. There was mixed news in terms of profitability with Scottish Widows profit before tax increasing by £20m, or 7%, to ...