Ascentric has unveiled plans to develop a white-label service giving IFAs a direct to consumer platform based around the Hargreaves Lansdown model by next year.
Axa-owned Elevate recently outlined similar plans to broaden its white label offering, and Ascentric chief Hugo Thorman says a direct to consumer capability has long been in the Ascentric pipeline.
"This has always been our ambition and part of our plans. We hope to get it up and running by the middle of next year."
The initiative is being launched as the Royal London-owned wrap looks to move into the wider mass-market and help consumers for whom advice is too costly.
"We want every IFA to have to have the ability to be a Hargreaves Lansdown," adds Thorman. "A client will be able to access our platform without an IFA being involved."
"But the client still has to go through the adviser - the adviser will not be giving advice but will have control in terms of introducing the client and managing the relationship."
Thorman concedes there is "a lot of work" still to be done before the service rolls out next year but is looking to leverage its expertise in other areas, such as its B2C offering.
The direct-to-consumer plan is part of a wider strategy placing more emphasis on its white label business. Within a year, Thorman hopes white labelling will account for 50% of business volumes.
The white label push will encompass both the independent and restricted advice spheres.
"We have built business streams for each white label offering - some advisers will want to connect to the whole of market and others will look to target a more limited range. We can satisfy both markets."
This week, Ascentric announced assets on its platform have passed the £2bn barrier, with total assets under administration surging 75% since the start of the year.
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