The intermediary landscape in 2013 and how we're supporting it.
The intermediary market is going through a period of great change as advisers get to grips with the Retail Distribution Review (RDR).
While RDR has led to some advisers choosing to exit the market, others have embraced the change and are moving forward with an enhanced service proposition. However, many advisers still have work to do on their service proposition and will need support to adapt to the evolving marketplace.
For instance how will charging structures be set up to ensure advisers can deliver a competitive service that works for clients while also delivering profit for the adviser?
Simon Massey, intermediary and corporate partnerships director at Scottish Widows outlines the firm's commitment to supporting advisers through this process over the coming year.
In addition to face to face support, advisers will also be able to contact Scottish Widows consultants via telephone to get answers to their queries. Seminar and training support will also be available. Advisers' lives are also made easier by the fact Scottish Widows' product range can deal with the full range of adviser and consultancy charging structures.
While 2013 will present its challenges Massey believes there are also many opportunities for advisers. Employers working out how to comply with their auto-enrolment duties will turn to their advisers for support. Even those employers who don't retain an adviser will need to take advice as their staging dates get closer. This is a key chance for advisers to really demonstrate how they can add value to their clients.
In addition those employees who are auto-enrolled will also look to get advice on how to manage their growing pension fund - the opportunity for advisers is huge.
