Tim Newman, a founding director of national IFA, Park Row Group, will step into a new Executive role as Royal Liver’s UK Distribution Director.
The move is expected to develop a more cohesive strategic focus for Royal Liver’s direct sales force and Park Row’s IFA and mortgage broker channel.
Royal Liver acquired Park Row in early 2003, as part of its strategy to extend its business model and bring an online capability for distribution.
Since then Royal Liver has been fine-tuning its core distribution strategy which has resulted in the restructuring of its direct sales force and the development of a new e-only product manufacturing unit for distribution through IFAs, which is expected to launch very shortly.
Royal Liver’s Chief Executive Officer, Steve Burnett said: “We believe that we have an opportunity to become the trusted distributor of sound advice and competitive, high quality financial services products. To achieve this we must consistently deliver great products to our customers. This means that while we will continue to manufacture a core range of best of breed products, where appropriate, we’ll also sell a range of products from other best of breed Providers.
“Royal Liver remains 100% committed to its direct salesforce, but as we move forward we must also explore wider opportunities across all profitable distribution routes.
“We must therefore capitalise on our distribution capabilities, which involves bringing Royal Liver and Park Row closer together.
“Having worked with Tim during the last 18 months, as we have brought Park Row into the Royal Liver Group; and having seen the team establish Park Row as a major national IFA, I know Tim has the skills and experience to champion this element of our strategy. I am therefore delighted to welcome him onto Royal Liver’s Executive Team.”
Tim Newman added: “While Park Row and Royal Liver’s direct sales force will operate independently, I will be concentrating on helping both sides of the Business maintain the highest standards of service for all our customers.
“We’ll also be looking to develop new best practice models, effective use of resource and opportunities to give individuals from both Royal Liver and Park Row, a wider variety of choices for career progression.
“Park Row is currently preparing for Mortgage and General Insurance regulation, as well as Depolarisation in January 2005. These regulations offer us many opportunities to continue to develop the Park Row distribution model. At the heart of this is our absolute commitment to independence, for both our advisers and our customers.”
