Living Time doubles Account Management team
This press release was issued in July 2009 and represented Living Time's view at that time. This article is recreated here to provide a review of past commentary and may not represent current ideas.
Retirement income specialist Living Time has appointed 15 new recruits in a major expansion to meet rapidly growing demand for its fixed-term annuity plans.
The appointments represent a doubling in size of Living Time’s IFA account management team and also a strengthening of its marketing and business development operations in preparation for a new phase in its ambitious growth strategy.
“Living Time has become a force to be reckoned with in the retirement income market, enabling us to attract new recruits of the highest calibre,” said founder and chief executive Kim Lerche-Thomsen.
“The majority of the new team members were until recently among the top performers at the Hartford. They had no shortage of suitors, but when they heard more about Living Time’s ethos of providing plans that are good for consumers, good for advisers and good for the industry, they were very keen to grasp the opportunity.
“The account managers’ main task will be to strengthen relationships with IFAs from across the country to help them develop and maximise the growing potential in the retirement income market. Our plans can benefit a broad range of clients and we will be using the talents and contacts of our new account managers to spread that message far and wide.”
He said that research* for Living Time pointed to growing IFA recognition of the importance of fixed-term annuity plans within clients’ retirement strategies. “The IFAs we surveyed regard Living Time as by far the most innovative brand operating in the retirement income market today.
“Typically they see fixed-term annuities as relevant for around half of their retiring clients, giving some idea of the impact these straightforward yet powerful solutions are ultimately going to have on the market.”
Living Time believes its strong sales growth – currently running 400 per cent above last year – is evidence that IFAs are increasingly accepting its view that growing numbers of retirees should keep their options open at the point of retirement rather than ‘defaulting’ straight into a conventional lifetime annuity.
“Our goal – embodied within the OMO – Offer More Options ‘campaign of change’ that now has more than 1,200 supporters – is to deliver the right retirement solution to the client at the optimum time,” said Kim Lerche-Thomsen.
“Fixed-term annuities have proved to be a compelling proposition because they enable clients to have both income certainty and flexibility for a number of years determined by the needs of the client.
“They also allow IFAs to service a diverse range of clients from the SIPP and SSAS client looking to build up their retirement savings in a way that delivers absolute guaranteed returns to those clients looking to defer their final retirement income purchase who want the certainty of guaranteed income and capital during a fixed term”
Ends
Notes to editors:
* Research carried out by MarketShape for Living Time – June 2009
Posted by: Stuart Wilson
Post date: Friday July 10, 2009 @ 15:16
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Alico is the insurance company that provides Living Time Plans.
Living Time Limited is an appointed representative of American Life Insurance Company (Alico). Living Time Limited is registered in England with company number 04750947 and has its registered office at 1 Conduit Street, London W1S 2XA. American Life Insurance Company is a private limited company incorporated with limited liability in Delaware, USA number 0123730. Head Office: One Alico Plaza, Wilmington, Delaware, USA 19801. Branch Office: 22 Addiscombe Road, Croydon CR9 5AZ. Registered in England number BR000230. Authorised and regulated by the Financial Services Authority (FSA reference number 139417).