Skipton Building Society has restructured its product distribution strategy. A team of 25 intermediary sales managers will now liaise with mortgage intermediaries. Previously, each branch had an area manager who ran the branch, sold Skipton and Norwich Union (NU) products, and liaised with intermediaries.
But from 1 July each branch has a branch manager, responsible for running the branch and selling Skipton products, particularly mortgages, and a financial adviser from Skipton Financial Services (SFS).
Jennifer Holloway, head of corporate communications at Skipton, said: ‘Part of the reason for the reorganisation was on-going increases in regulation and compliance meant the previous area manager had less time for customers, and more pressure to meet all the regulations. Although we do not know what CP121 will bring, we hope the changes will pre-empt the final decision.’
The reorganisation severs the tied arrangement Skipton had with NU. SFS will continue to offer NU products, along with others such as Zurich, Clerical & Medical, Prudential and AXA.