TFAS advisers' role unchanged: TOWER
It’s business as usual for TOWER’s in-house advisory staff, says the company’s managing director.
Tuesday, April 2nd 2013, 6:00AM 
7 Comments
by Susan Edmunds
Rob Flannagan said there were now about 37 financial advisers in TOWER Financial Advisory Services.
“Their contract is with the life company and that continues normally. They are part of the strategic direction of the life company, so they’ve got our focus.”
He said TOWER was supportive of TFAS and they formed a key part of the life company's plans.
However, TOWER's investment business is to be sold to Fisher Funds, with settlement due today.
But Flannagan said even that had not changed things much for TFAS advisers.
Flannagan said the investment sale had not changed the products TFAS advisers were able to sell.
“A contract is a contract, they are well protected, they don’t lose anything. They still have an authorised product list and distribution arrangements.”
If the life business were sold, Flannagan said TFAS would go with it. “They belong to that company.”
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Comments from our readers
The writing is on the wall........
He also said his role was to deliver value to all stakeholders, how's that gone Rob? This bloke has almost single handedly destroyed an institution and will now waltz off into the sunset with a big fat cheque.
Well done Rob you should be proud of your efforts, no new products, no innovations just a sad legacy of rearranging the deck chairs on the Titanic. Enjoy your retirement.
A job well done.
Although I dread to think what having no focus on the advice channel would look like given the complete neglect apparent in that figure of 37 advisers.
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