Lighthouse Group is preparing to launch an online and over-the-phone simplified advice service for members of its 100-plus affinity partnerships, but needs the FSA to first clarify its rules.
It will cater for what joint chief executive Malcolm Streatfield dubs The Great Dispossessed - those consumers disenfranchised as a result of the RDR - as well as people who "for whatever reason" do not want or need to see an adviser face-to-face. Streatfield says a typical client may require life assurance with no investment content, an annuity up to a value of £50,000 or a straightforward savings product such as an ISA. The group wants to reach out to those members of its affinity partnerships who have basic advice needs, which it estimates could be as many as half, equating to mill...
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