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Sovereign stops conceptual programme
Media Statement
9 November 2001
Sovereign stops
conceptual programme
Sovereign’s Business Development
Programme that was at the conceptual stage will now not
proceed to finalisation. We regret that it has been
misinterpreted prior to its finalisation and launch without
the full facts being known.
Speculation about the Programme before details were released to advisers have focused on the value of the business development grants on offer, and this has seriously compromised the ability of the Programme to succeed.
Whilst Sovereign strongly believe in investing in the financial services industry, there is no value to customers, advisers and Sovereign in finalising the programme which as a consequence of speculation has the potential to cause anxiety amongst our customers and within our industry.
Ends.
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