Generic advice won't be another specialist debt service - Thoresen

clock

Generic financial advice (GFA) will not duplicate specialist debt advice services says Otto Thoresen, author of the Thoresen Review of Generic Advice.

Speaking today at the ABI Saver Summity, Thoresen, chief executive of Aegon, said: "I am not interested in creating another specialist debt service." Instead, he says he wants the GFA service to help people take charge of their affairs before serious problems develop by referring people to existing debt advice companies and taking referrals from them. “It will be there to provide help and support so that when they have resolved their immediate financial crisis they do not relapse into the behaviour that caused it in the first place,” he adds. He says it is "feasible to build a nati...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Next gen group takes on young adviser shortage

Next gen group takes on young adviser shortage

Hollee Vivian launches initiative with adviser peers

Isabel Baxter
clock 15 September 2026 • 4 min read
News editor's view: The advice profession is getting bigger, but is it getting better?

News editor's view: The advice profession is getting bigger, but is it getting better?

The news editor's Friday Night Takeaway from 11 September

Isabel Baxter
clock 11 September 2026 • 3 min read
Feel Good Friday: Rosemount renews mental health partnership for advisers

Feel Good Friday: Rosemount renews mental health partnership for advisers

Supporting The Global Returns Project, Grief Encounter, FoodCycle and Verve Foundation

Professional Adviser
clock 11 September 2026 • 1 min read