Pru expands HNW direct sales arm

Belive that and you'll believe anything.

Don't hold your breath. Not exactly the world's most friendly IFA Company. Wonderful offshore call and admin centres. First India, now South Africa. How long before its Outer Mongolia and you will have to speak fluent Buryat. So that’s another off the list (If it was ever on it).

Posted by: Harry Katz

Pru Direct Sales Arm

Back to the bad old days then! I once heard the man from the Pru described as the most expensive visitor you could ever have to your home. Many of our so called FSA regulaters and particularly those who dreamed up RDR are not old enough, educated enough or simply don't care to know about how insurance company's direct sales forces used to abuse the trust of consumers. I hope but, don't expect, Mr Tyrie and his committee to pick up on this plus Aviva's direct sales recruitment, Standard Life' pocketing of commission savings and no mention by the FSA of banning rebates to insurers by external fund managers. Is RDR really going to benefit consumers ? It hasn't a hope of doing and was never engineered to do so. The banks and insurers highjacked the FSA years ago.

Posted by: John Smyth

Typical IFA's.....

.....Why is it almost every article I read on the website is financial advisers blaming everyone but themselves for the troubles our industry faces. I don't recall Prudential or Aviva for that matter selling dodgy strucutured products? I dont recall them giving advise to clients to place there money in UCITS funds, what i do recall them doing is offering financial advisers upwards of 7% commission for bond sales but I don't recall them saying you had to take it all. In fact it could be used to enhance your clients investment but what did we all do... we took as much as we could up front. Now we are faced with threat of extinction of some of breeds and we all cry to anyone who will listen that we are being picked on. Grow Up. Look at what you have been doing for the past 10/15/20 years and if you can honestly say you are being hard done by then complain but if you look out your 4/5 beedroom house on to your drvie way and see your shiny jaguar car and your pension is looking not too bad(subsidised by all the upfront commission) then get on with it. RDR isn't 2 weeks old it is in fact about 9 years in the making. The one person who matters in all this is the client then end consumer I think most of you forget this. In fact whil eI had been typing this i ran off some valuations for customer who have been in Prudential With Profits and Aviva With profits over the past 20 years and guess what... they are doing really well in fact when i compare this to all the so called fund experts and DFM who profess to be the best they blow them all out the water. Have a think, no sorry a look in mirror before judging others. Extinction is coming and like always the strongest will survive. I for one can't wait.

Posted by: Ex man from the Pru