Aviva Singapore to set up new financial advisory firm
BT understands the firm's business model could be similar to Great Eastern's or Manulife's, or a combination of both
Singapore
BRITISH insurer Aviva Singapore is in the midst of setting up a financial advisory (FA) firm in a move to strengthen its key distribution channel in a highly-competitive industry.
While market sources told The Business Times that details are unavailable, they said Aviva has applied to the regulator for a licence to set up a wholly-owned FA firm. BT understands that the insurer has received in-principle approval.
As Aviva currently relies largely on independent financial advisers and partly on a small team of relationship consultants to sell its products, industry sources also said Aviva is on a hiring spree for agents, adding that British insurer Prudentia…
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