L&G: banks will come back to advice

At an event in London today, L&G managing director of banks and building societies Chris Last said high street financial advice has moved to building societies as many banks have exited the space. Through restricted advisers in branch, L&G has access to more than 85% of total UK building society assets, 83% of branches and 87% of investing members, according to the Building Society Association. However, Last said he expects banks to re-enter the advice market in the future. "I think we will see banks coming back to advice," he said. HSBC is among the banks which closed its tied ...