Transact has told advisers it is not looking to expand into the direct to consumer (D2C) or workplace savings markets and will instead focus solely on the IFA space.
In an adviser update, the UK's first wrap dismissed the emerging D2C and workplace savings space as "experiments in developing markets" triggered by the platform industry's rush to find new outlets.
"We have looked at the developments likely to emerge in the areas of workplace savings, direct to consumer and affinity group offerings...but they have no real connection to Transact's raison d'etre," said Transact marketing director Malcolm Murray (pictured) in the adviser update.
"I am convinced the greatest opportunity is still to look after the needs of the quality independent financial adviser."
Murray's comments come as rival wraps Elevate and Ascentric recently unveiled plans to launch D2C offerings in a bid to help advisers keep hold of "orphan clients" - or those disenfranchised from financial advice because of the retail distribution review (RDR).
He said regulatory change had prompted some players to change tack.
"There is a temptation, with all the changes that are forecast as a result of the RDR, to rush around and identify new markets and new opportunities."
But in a dig at rival wraps, he added: "We will leave these ‘experiments' in developing markets to platforms that perhaps need to find new outlets."
Murray said RDR had underlined the importance of offering a bespoke financial planning service.
Transact's bid to shore up the support of the adviser community comes on the back of the wrap being hit by a £3.5m FSA fine for client money breaches in December.
Murray said the wrap had been made to feel "humble" and "grateful" to those advisers voicing their support in the aftermath of the fine.
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