Articles - AXA Wealth provides financial advice service to Co-op Bank

  •   Major seven-year distribution partnership agreed

 AXA Wealth announces it has won the contract to provide a new financial advice service to Co-operative's (Co-op) five million retail banking customers across its bank branch network. The major distribution agreement will include an investment, pension and life insurance advice offering.

 The exclusive seven-year distribution partnership, which will launch in October 2011, will provide Co-op's clients with access to expert financial advice and a wide investment and protection product range, backed by the resources and strength of AXA Wealth.

 AXA Wealth has a strong reputation for providing efficient and effective advisory services to the retail banking sector, following its successful agreements with Clydesdale and Yorkshire Banks, and Britannia Building Society.

 The new service, which is designed for the post Review of Retail Distribution world, will offer Co-op Bank's customers a specifically tailored fund range, including ethical funds, designed using the considerable expertise of Architas, AXA Investment Managers and Co-operative Insurance Services Unit Managers. The service is backed by a bespoke version of AXA Wealth's Elevate wrap platform, which is the leading platform operating in the retail banking sector today.

 The partnership will deploy 325 advisers across the branch network. The new team will include the transfer of roles from the existing Co-op business and a significant number of new roles that will be offered to Co-op's staff.

 Mike Kellard, CEO, AXA Wealth, said: "Our partnership with Co-operative Bank has huge benefits for Co-op's customers and is beneficial for both of our businesses. AXA Wealth is proud to be partnering with a company with such a strong history and positive reputation."

 Simon Philp, Managing Director, AXA Wealth, Bancassurance, said: "The agreement is a significant and exciting deal for AXA Bancassurance, which reinforces our reputation for having the broad capabilities to provide advice and life and savings products to retail bank customers.

 "With over 550 advisers servicing an even greater number of retail customers, AXA Bancassurance now has significant distribution capability and makes us a leading provider of investment, pension and life assurance advice in the retail banking sector."

Back to Index

Similar News to this Story

Whats going on in the UK motor market
Last year, the UK motor market recorded its worst performance in over a decade, as noted in a recent ABI press release. This was followed by headline
The PPF publishes The Purple Book for 2023
The Pension Protection Fund (PPF) has today published The Purple Book 2023, which showed a significant improvement in the net funding position of the
Retirement Income advice
Advising clients in and approaching retirement is a complicated business, and it is no surprise that the FCA have chosen to focus on this area via a t

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS


Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.