From: Terry Harper 
Newsgroups: uk.finance
Subject: Re: The Man from the Pru
Date: Tue, 05 Jul 2005 15:51:27 +0100

On Fri, 1 Jul 2005 00:04:20 +0100, john boyle
 wrote:

>2)The PIA (I think it was them at the time) told them off big style for 
>not training Keith and his mates properly and for telling Keith that he 
>had to flog bad products. I cant remember for sure but I think they got 
>a whopping fine. The Pru then looked at what their guys in trilby's were 
>selling and also they noticed that IFAs werent recommending them. They 
>then realised that their products were crap and that they couldnt expect 
>Keith to have to sell them. The cost of re-training and monitoring Keith 
>made it uneconomic to keep him so the Pru scrapped him and all his 
>mates.

It was about this time that the products that the IFAs were not
selling were withdrawn and replaced with more IFA-friendly products,
i.e., whopping front-end commissions and higher trail commissions.

The previous products were much better for the client, with no
front-end loading and reasonable spreads.
-- 
Terry Harper
URL: http://www.btinternet.com/~terry.harper/