Decline in face-to-face advice 'has implications' for platforms

The demand for face-to-face advice expected to drop further this year

Sahar Nazir
clock • 1 min read

The decline in the number of clients demanding face-to-face meetings has implications for platforms, Aviva head of adviser platform Al Ward has warned.

Speaking to Professional Adviser, Ward said Aviva has witnessed a drop in the number of clients demanding face-to-face advice since January. "The reduction in face-to-face meetings does not affect advisers, but it does have implications for platforms," Ward said. "It will drive challenges for clients," he warned. "The cost of advice is increasing." He said he expects the demand to drop further this year as a result of the Consumer Duty regulation. Ward added that clients that only want face-to-face meetings may reduce the pool for platforms. The reduced number of clients seeking ad...

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

Majority of un-advised with stock investments have no financial plan

Majority of un-advised with stock investments have no financial plan

‘Many are realising the need for expert financial support in later life’

Hope Coumbe
clock 12 June 2024 • 1 min read
Financial wellbeing — what are advisers and planners measuring?

Financial wellbeing — what are advisers and planners measuring?

'Money should be our servant, and not our master'

Chris Budd
clock 12 June 2024 • 3 min read
Targeted support could lift 5 million people out of advice gap

Targeted support could lift 5 million people out of advice gap

‘Targeted support could move the dial and present business opportunities’

Isabel Baxter
clock 12 June 2024 • 1 min read