Pru expands HNW direct sales arm

The insurer plans to increase the number of advisers it has in Prudential Financial Planning (PFP) to 40 by the end of the 2011, rising to 80 in the next 12 months. PFP-authorised advisers, who will be qualified to an RDR-ready (QCF Level 4) standard by 2013, give restricted advice on the insurer's products to its wealthier customers. Product director John Warburton said the service would only target original Prudential customers, however, and would not compete with IFAs. "We are completely ring-fencing customers introduced by IFAs," he said. Prudential's decision to grow its ad...