Abbey withdraws from the UK IFA market


Abbey has withdrawn from the UK independent financial adviser (IFA) market after parent Santander questioned profitability. The moves comes only two years after making offerings available exclusively for this market, say bankers. Santander sells through its branch network in Spain, where there is no IFA business similar to that in the UK.

The UK IFA market now demands more than just equities products, as well as an investment in wrappers and more recently a warrants business, which Abbey has

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