Specialist health insurer, National Friendly, is increasing its workforce by 40%, following the acquisition of 425 Direct Ltd, the new name for AWD Direct, the telephony arm of independent financial advice company AWD Chase De Vere.
The move will see 425 Direct become a wholly owned subsidiary company of National Friendly. Under this structure it will continue to offer independent financial advice and the ‘compare and buy’ market review service it previously provided as part of AWD Chase De Vere.
The acquisition will boost National Friendly’s internal independent financial advice capacity and will increase its ability to deal with direct healthcare business. The new team will relocate to National Friendly’s headquarters in Clifton, Bristol and will be in place from 5th October, significantly expanding the insurer’s call centre operation.
Initially, 425 Direct’s services will be available to existing clients of Phoenix and then, once established, the team’s offering will be provided to all of National Friendly’s members.
Commenting on acquisition, National Friendly CEO Richard Sear said: “We are always looking for effective ways to grow our business and we see this as a fantastic opportunity to add value for our members. Whilst the 425 Direct team will operate completely independently from National Friendly, it will enhance the offering the company can provide and we are looking forward to welcoming the new team on board this month.”
This transfer of ownership means that AWD Chase De Vere is no longer offering telephony based financial advice but will continue with high net worth face to face field based advice delivery.