Mutuals play the loyalty card

Article Abstract:

Following a spate of demutualisation by building societies over the last two years, the remaining mutuals are launching competitive services to retain their customers. Building customer loyalty reduces the pressure to find new customers, which can account for up to 40% of a company's costs. Loyal customers also create new business through referrals. As a result, these companies can fight off the arguments for demutualisation. Among the competitive services offered by mutuals are a 90-day notice account from Nationwide and a profit-share scheme from Britannia.

Comment:

UK: Remaining building societies launch competitive svcs to retain customers following a spate of demutualisation in last 2 yrs

Savings & Loan Assns, Savings Institutions, Savings and loan associations

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Volatile stock scares investors

Article Abstract:

According to a survey of 1050 IFAs by AIG Life, investors are putting their money increasingly into protected and guaranteed stock market products as a result of the recent sharp ups and downs of the stock market. Over 50% of the IFAs stated that their clients rated security as the most important investment factor. With less than a fifth of the IFAs stating that clients invested chiefly for income, there is a marked trend towards growth rather than income as investment's driving force.

Comment:

UK: Investors are increasingly putting money into protected & guaranteed stock mkt prods according to survey by AIG Life

Investment Advisory Services, Investment Advice, Investment advisers

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