The Leeds and L&G agree RDR deal

Legal & General is to be the Leeds Building Society’s main provider of financial service advice and products when the FSA Retail Distribution Review (RDR) is implemented in January 2013.

The deal will also include Individual Protection and Structured Deposit products.

Kim Rebecchi, sales and marketing director at Leeds Building Society, said: “Preparing for the implementation of RDR has been challenging and we have looked at a range of possible solutions. We know that providing a wide range of products and services is important to our members.

“As a mutual building society with a national presence, we remain committed to offering financial advice locally across our branch network and direct channels.

“Therefore, at a time when many other high street institutions are turning their backs on this type of service, we have worked closely with Legal & General to ensure that we deliver a post RDR solution that is best for colleagues, and best for our current and future members.”

Chris Last, managing director, Legal & General Bank & Building Society Distribution said: “We are excited to be entering a new partnership and supporting Leeds Building Society in helping them to deliver a range of services and products to their members, providing them with protection against unforeseen circumstances, helping to save for retirement or invest money wisely, including crucial access to professional advice.

“The new partnership with Leeds Building Society is a further endorsement of Legal & General’s commitment to deliver financial advice in a post-RDR world and our strong reputation as a manufacturer of protection and investment products.”