IFAs question whether AXA Sun Life will match PPP's lifetimecare's service standards
PPP lifetimecare's portfolio of long term care (LTC) products is to be handled by parent company AXA Sun Life's team of IFA consultants instead of its current specialist team.
The move means that advisers will have access to a much larger team of 200 trained consultants to discuss LTC products. However, some advisers are concerned the expertise and good service levels provided by the previous team may disappear with the move.
Marlene Shalton, director of Chambers Morgan James, said: 'If the AXA salesforce do not get the right training, they will not be doing any favours to the IFA market. Lifetime care has always provided good service and support for advisers and it would be disappointing if this does not continue.'
The previous LTC sales team are being offered positions within the AXA team, but according to Steve Muir, marketing manager at Lifetime Care, they may not all accept the offer. 'Their jobs no longer exist on the previous team, but we have 60 places on the AXA team to fill. Whether they choose to join is up to them ' they may not all wish to,' he said.
The move is aimed at increasing sales and strengthening AXA's commitment to the LTC market. Howard Horne, principal at Howard Horne Associates, said it could turn out to be a good move. 'In my view, the service levels have not been up to scratch until now. If we have access to a larger sales-force for long term care, then it can only work to our advantage.'
Mark Osland, director of Fidelius Limited, agreed. 'To combine resources does not necessarily mean the expertise will be lost and if they are expanding their resources it could work out well. PPP's salesforce is usually very good and have a great knowledge of long term care. It would be foolish to risk losing their good reputation,' he said.
