Auto-enrolment will spark a surge in pension business and providers could struggle to cope with increased volumes unless they prepare now, Friends Life has said.
The provider is expecting a 20% to 40% increase in its client book following auto-enrolment and is working with advisers to brace for the increased volume of clients. The provider said it saw auto-enrolment as a "massive opportunity" for providers and advisers. Speaking after the release of the firm's preliminary results this morning, Friends Life corporate benefits managing director Colin Williams said: "The key thing is being able to handle that volume in a cost efficient fashion. "We're spending an awful lot of time, money and effort ensuring our receiving platforms are efficien...
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