Frank Parsons Director of Sales

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Frank ParsonsDirector of Sales
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• The financial services world is changing
• have you identified your lighthouses?

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Interactive session

• What do you think will be the biggest issue to
  you over the next two years?
• Effective use of technology and e commerce
• Client segmentation
• Developing a marketing proposition
• Developing your people/HR issues
• TCF and working with legislation
• Transition to fee based model

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Interactive session

• What do you think will be the biggest issue to
  you over the next two years?
• Effective use of technology and e commerce
• Client segmentation
• Developing a marketing proposition
• Developing your people/HR issues
• TCF and working with legislation
• Transition to fee based model

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Environment
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Environment

• NEWCOB - inducements

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Environment

• NEWCOB - inducements
• SIPP Regulation

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Environment

• NEWCOB - inducements
• SIPP Regulation
• Retail Distribution Review

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Regulatory timeline
06/04/07 Retail Distribution Conference Discussion
paper issued
01/11/07 29/02/08 Retail Distribution
Review Consultation paper
01/11/07 NEWCOB Principle based regulation
04/01/07 21/04/07 FSA Distribution Review Meetings
Oct 07
Apr 07
Jul 07
Jan 08
04/01/07 24/01/07 ABI member consultation
06/04/07 PPP and SIPP Regulation
06/04/07 01/11/07 Retail Distribution
Review Consultation period
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Retail Distribution Review

• Retail Distribution Review

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Sustainability of the sector

• The financial services industry is too focused
  on new business and upfront commission leading to
  poor recommendations for customers and
  unsustainable business models.Retail
  distribution review

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Sustainability of the sector

• Profitability is an issue for both providers and
  advisers

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Sustainability of the sector

• Profitability is an issue for both providers and
  advisers
• Transactional advice
• Lack of long term value
• Persistency
• Negative impact

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Sustainability of the sector

• Profitability is an issue for both providers and
  advisers
• Transactional advice
• Lack of long term value
• Persistency
• Negative impact
• Factory gate pricing
• Control earnings
• Long term valuable relationships

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Sustainability of the sector

• We fully support this approach

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Impact of incentives

• The industrys current model of financing
  distribution creates incentives for advisers that
  are not aligned with the interests of their
  consumers.Retail Distribution Review

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Impact of incentives

• Commission certainly has its place

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Impact of incentives

• Commission certainly has its place
• Creating long term value in your business
• Determine the shape of your earnings with your
  client

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Impact of incentives

• Commission certainly has its place
• Creating long term value in your business
• Determine the shape of your earnings with your
  client
• Considerations
• Your proposition
• Demonstrating its value

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Flexible Adviser Remuneration

• Pension product charges

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Flexible Adviser Remuneration

• Fund charges
• Pension product charges

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Flexible Adviser Remuneration

• FAR
• Fund charges
• Pension product charges

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Flexible Adviser Remuneration

• FAR
• Fund charges Reflecting the true cost of
  advice
• Pension product charges

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Flexible Adviser Remuneration

• Transparent adviser Remuneration
• FAR has been available for over 15 years

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Flexible Adviser Remuneration

• Transparent adviser Remuneration
• FAR has been available for over 15 years
• Fair and appropriate remuneration basis
• Agreed up front with your client
• Deducted openly and clearly from their fund

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Flexible Adviser Remuneration

• Transparent adviser Remuneration
• FAR has been available for over 15 years
• Fair and appropriate remuneration basis
• Agreed up front with your client
• Deducted openly and clearly from their fund
• Flexible payment system
• Can be taken initially and/or regularly during
  term of product

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Professionalism and reputation

• a flexible financial services industry offering
  a variety of products and services that meet the
  needs of consumers and deliver on their
  expectations.Retail Distribution Review

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Professionalism and reputation

• Qualifications

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Professionalism and reputation

• Qualifications
• Differentiate

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Professionalism and reputation

• Qualifications
• Differentiate
• Competition

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Professionalism and reputation

• Client Survey

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Professionalism and reputation

• Client Survey
• Market and proposition development

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Professionalism and reputation

• Client Survey
• Market and proposition development
• Information technology

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Professionalism and reputation

• Client Survey
• Market and proposition development
• Information technology
• Technical expertise

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Professionalism and reputation

• Client Survey
• Market and proposition development
• Information technology
• Technical expertise
• Transition to fees

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Professionalism and reputation

• Client Survey
• Market and proposition development
• Information technology
• Technical expertise
• Transition to fees
• Consultancy support

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Professionalism and reputation

• Client Survey
• Market and proposition development
• Information technology
• Technical expertise
• Transition to fees
• Consultancy support
• Professional Edge
• Support services for professional advisers

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• Retail Distribution Review

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Interactive session

• What do you think Winterthur should focus on over
  the next two years?
• Expand the product portfolio
• Technological solutions
• Our service and added value proposition
• Expand the fund range

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Prepare to vote
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Interactive session

• What do you think Winterthur should focus on over
  the next two years?
• Expand the product portfolio
• Technological solutions
• Our service and added value proposition
• Expand the fund range

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Interactive session

• The HNW market is expanding and charging
• Offering significant opportunities

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Interactive session

• The HNW market is expanding and charging
• Offering significant opportunities
• Adapting to meet the needs of HNW clients
• with Winterthurs Professional Edge services

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Interactive session

• The HNW market is expanding and charging
• Offering significant opportunities
• Adapting to meet the needs of HNW clients
• with Winterthurs Professional Edge services
• Moving goalposts and increasing regulation
• Winterthur can help you face the challenges
  ahead

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A wealth of HNW expertise

• Winterthur provider of specialist investment
  and retirement solutions distributed through
  quality IFAs to their HNW clients

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A wealth of HNW expertise

• Winterthur provider of specialist investment
  and retirement solutions distributed through
  quality IFAs to their HNW clients
• Find out more, speak to your Business Development
  Manager or visit www.winterthur-life.co.uk

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Winterthur Roadshow 2007A wealth of high net
worth expertise
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Regulation

• Winterthur Life UK Limited is authorised and
  regulated by the Financial Services Authority.
• Information regarding tax and practice is based
  on Winterthur Lifes understanding of current
• legislation and HM Revenue Customs
  policy/practice. Legislation may change in the
  future.
• Full terms and conditions of the products are
  available on request.
• Please note that past performance is not a guide
  to future performance. The value of units
• can fall as well as rise and is not guaranteed.
  Investors may not get back the full amount
• invested.
• The information contained in this presentation
  does not constitute advice.
• Any sample screen shots displayed are correct as
  date of issue but may be subject to change.

• Winterthur Life UK Limited. Registered Office
  Winterthur Way, Basingstoke, Hampshire RG21 6SZ.
  Registered No 3116645 England and Wales