Consumers increasingly 'shopping around' IFAs for annuities

MGM Advantage found 4.5% of quotes produced each month are for customers using more than one IFA. This has increased from 2% at the beginning of 2012. The annuity provider has said although this increase is small, they expect customers to increasingly take this approach. Aston Goodey, distribution and marketing director at MGM Advantage said: "We were very surprised to find even this number of customers effectively window shopping around advisers looking to get the best annuity rate. It looks like this might be a growing trend - we know of one customer who approached six different adv...