L&G: 'Restricted' will be major growth area

Mark Gregory says he expects a number of advisers to offer restricted advice alongside their whole of market option as a type of ‘triage’ service, at a third of the cost of independent advice. In support of this, he says L&G is moving to a ‘product-plus model’, where it will look to distinguish itself from competitors by offering administrative and digitalised tools to help advisers cut costs. Advisers will continue to be L&G’s main route to market “in my lifetime”, Gregory says, adding he expects direct sales to continue to generate only about 2% of the company’s revenue. The prov...