The agreement with the Society – which has 13 branches and 130,000 members - will give its mortgage customers access to financial planning and advice services from Prudential.
Prudential Financial Planning will advise on protection requirements, and additionally provide investment, pension and retirement planning on customer request. The service will be primarily telephone-based while face-to-face meetings will be arranged when required.
In December 2017, Prudential Financial Planning announced plans to expand the range of protection products available to customers through a new panel arrangement with SimplyBiz. The panel includes eight providers - AIG, Aviva, Legal & General, LV=, Royal London, Scottish Widows, Vitality and Zurich – representing more than 90 per cent of the protection market.
Andy Lucas, Chief Operating Officer at the Cambridge Building Society, said: “We see Prudential Financial Planning as an excellent partner for us. They place customers at the heart of how they operate and like ourselves are dedicated to finding the right solution for the customers’ needs.
“They are a trusted nationwide brand recognisable to everyone and we are confident that they will work hard with our members to get the most out of their financial planning needs and be able to face the future with confidence and increased security.”
Chris Haines, Chief Executive of Prudential Financial Planning, said:“I’m delighted that the Cambridge Building Society has chosen Prudential Financial Planning to advise its members; it highlights how the industry recognises the high-quality service we can provide. This is a significant and exciting development for us.
“Buying a home and taking out a mortgage is one of the biggest financial decisions people make and it is important they consider their protection needs, particularly if they have dependants. Prudential Financial Planning will be able to help members of the Cambridge Building Society pick the cover that best meets their needs and also advise on retirement planning if needed.”
About Prudential Financial Planning
Prudential Financial Planning’s advisers are qualified in financial planning and advise on a range of carefully selected products from Prudential and other providers – known as a restricted advice service. Advisers provide recommendations on investments and savings, retirement planning, income in retirement, protection, estate planning and, in conjunction with other organisations, access to legal and mortgage services.