IFA consolidator Perspective Financial Group is looking to launch an execution-only service for its advisers’ lower-net-worth clients after the retail distribution review comes into force.
The firm is considering launching a non-advised telephone and web-based service for existing clients who will not be able to afford full face-to-face advice after 31 December 2012.
Perspective group operations director Peter Craddock (pictured) said: ‘Face-to-face advice is our core service, but we have to always think about the evolution of the company. It is part of our development thinking but not a central plank [of our proposition]. You need a strong brand: Hargreaves Lansdown is a brilliant case study, but you can’t just replicate that.’
In October it was reported Perspective had put itself up for sale, hiring KPMG to hold an auction from which it expects to raise between £60 million and £80 million.