Rules aid Just Retirement

ANNUITY specialist Just Retirement yesterday confirmed record sales for the last six months of 2012, as financial advisers brought forward business to beat this year’s ban on referral fees for financial products (rules known as RDR).

Group sales were £946.6m, up 44 per cent on the same period last year, while pre-tax profits edged up to £77.8m. Chief exec Rodney Cook said advisers also accelerated deals to get ahead of the new requirements for gender-neutral pricing.

“We expect volumes in the next quarter will be lower than these unusual market levels,” he added.