Life giant Prudential has decided not to invest millions of pounds developing a wrap platform because it believes in future the technology could be given away free, according to head of intermediated distribution Andy Curran.
It is one of the few life companies not active in the platform space as Aviva, AXA, Standard Life, Scottish Widows, Friends Provident, Legal & General, Aegon and Zurich all have, or are building, offerings in either the individual or corporate platform arena. But Curran says he has not pushed Prudential into creating its own proposition because he is sceptical the multi-million pound investment will be easily recouped with so many providers offering similar technology. "We have no intention of playing in the platform market. We see no requirement for, or benefit in, launching another ...
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