PTI will now set up an IFA Network in early 2004 and this will form the final piece in the jigsaw of the company’s plans to offer intermediaries access to a comprehensive ‘financial supermarket’ comprising the full range of regulated products, including pensions and investments, mortgages, and general insurance.
This financial supermarket is supported by state of the art administration systems, comprehensive sales and marketing support, and a compliance, training and competence infrastructure designed to meet all current and impending FSA requirements for investment, mortgages and general insurance products.
In business terms, approval to set up an IFA network marks a major milestone in PTI’s long-term strategy of becoming the UK’s Number 1 financial services supermarket in all classes of regulated business.
Martin Wilson, PTI Head of Sales, says: “The new PTI IFA network builds on the experience of our established IFA Department and means we are now able to offer an unrivalled choice of products and services to all types of intermediaries. We see ourselves as a product buying and support services group which aims to give intermediaries access to all those products and services they need to run their businesses profitably and compliantly in a tightly regulated business environment.”
He adds: “We intend to attract the members of other networks who are unhappy with poor product choice, mediocre service standards and, quite probably, with the way they are required to do business. In contrast to many other networks, PTI offers a genuinely comprehensive product range on highly competitive terms backed by state of the art service and technology. Our approach is to treat intermediaries as business partners, not to dictate how they should carry out their business.”
