Leeds switches from Aviva to L&G for restricted advice offering

Leeds Building Society has dropped Aviva in favour of Legal & General (L&G) to provide products for its restricted advice offering.

Leeds Financial Services, a wholly-owned subsidiary of the building society which provides financial advice to Leeds customers, will restrict itself L&G’s post-RDR range of life insurance products from today.

It will continue to offer general insurance products from Aviva.

L&G has existing bancassurance deals with: Yorkshire, Dudley, Tipton & Coseley, Cambridge Building Society, Leek United Building Society, as well as Virgin Money and Nationwide.

Chris Last, managing director of L&G bank and building society distribution said: ‘Providing financial advice to customers in a post-RDR world is an important part of our distribution strategy and we are very pleased that Leeds Building Society has selected Legal & General to be their partner.’

Kim Rebecchi, sales and marketing director at Leeds Building Society said: Our board held the view that, at a time when many other high street institutions are turning their backs on this type of service, with some focusing solely on high net worth customers, Leeds Building Society should continue to offer an advice service. This also fits with our strategy of focusing on personal service and meeting the needs of a wide range of members.

‘We have carefully considered all the implications of RDR and looked at the range of possible solutions, and decided to work closely with Legal & General to ensure that we deliver a successful post-RDR solution for our members.’