The panel was launched in 2011 for Stonebridge’s appointed representative firms but will now be accessible to all DA firms seeking market-leading rates for their clients and preferential commission terms.
The limited panel offers DAs access to five providers – Aviva, Friends Life, Legal & General, LV= and PruProtect.
Paul Nye, business partnerships director at Stonebridge Group, said: “Our life and protection limited panel has run successfully alongside our whole-of-market proposition for a number of years in the AR space, however a number of DA firms have recently requested access to it.
“Because of this we are opening up the panel to all such firms who will now be able to benefit from the products available from our providers and the leading commission terms we have secured.
“We want to provide value to DAs who would ordinarily not have access to such a panel and want to cement Stonebridge’s position as a business that is able to support all kinds of advisory firms, regardless of their regulatory approach.
“Firms will sometimes choose to move between DA and AR status and our stance is to help support all practices in as many ways as we possibly can.
“Those DAs using the panel have no tie-in to Stonebridge or contractual commitment but will simply be able to secure the sort of terms that naturally come from our business. It is a set-up which should benefit both the firms themselves and their clients.”
Stonebridge estimate that DA firms who use the panel will be able to earn typically 20% more income than their existing outlets – the commission will be paid direct to the firm by the provider.
Those firms using the panel will remain fully independent and there is no contractual tie-in to the Stonebridge Group.
Stonebridge Group network members have access to both this limited life panel and a whole-of-market offering which runs alongside it – AR firms choose the route they wish to use.
