The Slow Death Of The Life Companies

I recently attended the FSA’s retail conduct risk outlook. It was interesting that the perceived risks were coming mainly from the banks. Most of the slides will be of no interest but I would like to show you the one above.

It makes miserable viewing if you are a traditional life & pensions company. Any guesses where it has gone since 2009? Well it has got considerably worse for them.

Where has the money gone? Nucleus & SIPPcentre among others. If you dis-illusion your customers you will lose them. Viva the UK financial services revolution.