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Perspective hatches execution-only service plan

by Jun Merrett on Nov 09, 2012 at 08:05

Perspective hatches execution-only service plan

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.

4 comments so far. Why not have your say?

Paul Barnard

Nov 09, 2012 at 08:41

Are lower net worth clients more likely to know and understand exactly what they want to buy then, or will they be "guided" down a route to purchase a carefully selected range of options?

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Charles Rickards

Nov 09, 2012 at 08:56

Just another way of keeping the commission payment rolling in. The FSA will have to keep a very close eye on those companies offering both advice and non advice services. Roll on RDR2!

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Eamonn Dorling

Nov 09, 2012 at 09:34

In a parallel industry - a potential client that cannot afford a luxury fortnight in the sun finds a way to have a break in the summer - but it is unlikely that they contact an up market holiday firm, they will use another distribution model.

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David Prior

Nov 09, 2012 at 22:12

A non-advised telephone service!! - how will they avoid giving any advice, when we are told to write reports to cover the simplest of matters, such as fund switches, as advice is given there! They will stray into advice as sure as eggs are eggs. RDR2 will indeed be forthcoming and we can all spend hours of our time and resources preparing for that, as well as the confusion that VAT will cause..........

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