Advisers are concerned service quality could suffer if Resolution succeeds in a takeover of AXA's annuity, protection and group pension business.
IFAs are reacting cautiously to news Resolution Group, which bought Friends Provident last year, is in talks over a £2.75bn deal to consolidate the AXA businesses with its Friends Provident operations. Protection specialist IFA Peter Chadborn says he has mixed views about a deal which would lead to the creation of one of the UK's largest protection and group pension businesses. "There is plenty of competition in the market so we can afford to lose some product providers. However, experience has taught us the larger the provider gets, the lower the quality of service becomes. "Espec...
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