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

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...