Advisers will always be core to Legal & General's (L&G) business but the restricted space is where it expects large future growth, according to the group's executive director for savings.
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...
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