Broking is "two-speed industry"
The broking landscape is changing rapidly, as a result of a high level of consolidation. Axa distri...
The broking landscape is changing rapidly, as a result of a high level of consolidation.
Axa distribution director Mark Cliff has said that 50 agencies are exiting broking each month by either selling up or closing and, as a result, Axa is changing its service offering to brokers by closing five regional offices (see p7).
Phil Scarrett, head of trading at Norwich Union, gave a more conservative estimate saying between 15 and 20 brokers a month are leaving the market or being acquired.
There is a
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