Brokers face banks threat

Brokers are increasingly vulnerable from small and medium-sized enterprise (SME) customers taking th...

Brokers are increasingly vulnerable from small and medium-sized enterprise (SME) customers taking their business elsewhere, according to new research commissioned by Norwich Union and carried out by Holden Pearmain. It also highlights the fact that competition from banks is starting to make significant inroads.

The study shows there is a growing trend for brokers to be more vulnerable than accountants, solicitors, financial advisers and even banks when it comes to SMEs seeking alternative service