Lloyds chief claims it will be UK's 'primary wealth adviser'

Christ, I hope not! Or we're all doomed. How will they staff it, now that they're sacking 45,000?

Memo to self: when a partially sighted Scotsman with a personality disorder approaches you at a cocktail party and offers you the deal of the century, don't listen - just walk away.

‘We expect our Scottish Widows manufacturing platform to enable us, as a vertically-integrated provider, to provide a wide range of products to customers in an integrated manner, benefiting us in terms of both product innovation and development and in the delivery of products to our customers.’

What a load of twaddle !!

I wasn't aware that Scottish Widows manaufactured anything, other than misleading marketing material!

The next big miss selling scandal?

Most quality IFAs, wealth managers have a secret weapon- longevity of relationships usually in place for at least one decade.

Clients understand this and by and large are willing to pay for the individual service.

Staff / advisers often appreciate a business owned by the directors as opposed to 'management reviews' from unseen directors / consultants on high!

Bespoke or 'managed solution'?

Truely independent or whole of market?

Come on all ye quality independents!!

Aidan Vaughan

MPL Wealth Management

What he is really saying is that Lloyds bank branches will be used to sell millions of pounds of hugely expensive and inappropriate structured products to thousands of little grannies whose deposit accounts are currently receiving sod all interest.

This is exactly what Santander did through the old Abbey network.

Scot Wid should be sold off and the UK tax payer support repaid

Wealth advisors!?!?!? Essentially a bunch of tied agents representing both an economically and morally bankrupt organisation!

Get real Lloyds and sort your problems out before you start to get delusions of grandeur!

Who's selling misses? Where can I get one?

Lloyds, the UK's "primary wealth adviser"? What planet are they on! I wonder if they explain to their clients that they want to increase income per customer by 50% by 2014? I've seen a number of clients over the years with Lloyds Bank products and without exception they were all an absolute rip off.

People of Britain - avoid this lot like the plague! If you think the advice you are getting is free, YOU are the product being sold. Quality wealth managers will be laughing out loud today at an annoucement like this. What a joke!

In reply to AC Wiltshire

It is totally out of the question that Lloyds will be miss-selling.

An organisation as great as Lloyds will have worked out that if you sell on an execution only basis (like many of their mortgages are at present by advisers without any qualifications) then the company is immune from having given incorrect advice or any advice.

The advisers that hold CEMAP are expected to give advice but if you walk into an office with only a non-qualified adviser then it must be written on an execution only basis. And, surprise surprise the FSA allow this.

They will fail to get the assets needed to make a platform profitable or do a half hearted attempt and only white label Fundsnetwork....why worry, they never have or will be a threat. Lloyds may be the next bank to axe it`s branch sales force Barclays did! If I worked at Lloyds I`d be looking for pastures new & quickly!

Haven't they lost almost all of their investment assets in the States due to massive personnel moves and departures? More shifting of people and responsibilities would seem to be a bit imprudent then, wouldn't it?