'Man from the Pru' relaunches and targets 200,000 clients

Life company Prudential has relaunched its direct sales team, previously known for its ‘Man from the Pru’, with plans to target 200,000 clients.

Prudential Financial Planning launched in January after a pilot scheme last year. It is in the process of recruiting 60 advisers in addition to the 20 it already has.

A spokesman for Prudential said the 200,000 clients being targeted would have been sold Prudential policies by a salesman before it withdrew its direct sales force around 10 years ago. He said the new service would not impact on the insurer’s relationship with IFAs.

‘The majority of our resources are still targeted at the intermediation channel and that is where 90% to 95% of our business will continue to be generated,’ said the spokesman.

With the retail distribution review (RDR) on the horizon accountancy firm Deloitte believes revival of the direct sales force makes sense.

Andrew Power, lead RDR partner at Deloitte, said: 'A sales force that targets specific segments of clients makes perfect sense for providers. One of the reasons companies are doing this is to plug the advice gap.

'There will be fewer advisers after RDR and many financial services companies will be looking at ways to improve their direct to consumer distribution model.'