Lloyds pulls mass market investment advice

The group will continue to offer an advice service for those investors with more than £100,00. However, LBG said that following an "extensive review" into how the market will change post-Retail Distribution Review (RDR), those with lower amounts to invest were less likely to seek advice on a fee-basis. Those with less than £100,000 will have access to a non-advised service through Halifax, Bank of Scotland and Lloyds TSB. The changes will take effect from November. While the group would not confirm the exact number of advisers that that would be affected, it is expected to be ro...