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Berkeley Burke to partner with LV= robo-advice service


Berkeley Burke has signed a deal with LV= that will see it direct clients to the mutual’s online advice service Retirement Wizard.

The service is aimed at private clients who either do not need, or are reluctant, to pay for full financial advice, or through workplace pension schemes.

Users are charged £199 to produce a report of recommendations, and an additional £499 to execute.

Berkerley Burke is to receive 25 per cent of the execution fee, but is not compensated on the initial report.

Managing director Tony Durant says: “Professional advice is often seen as an unnecessary expense, but it has never been as vitally important to everyone as it is now. Berkeley Burke is delighted to be able to help people to make the appropriate decisions, for an affordable cost.”

LV= retirement solutions managing director John Perks says: “Too few people get the advice they need at the point of retirement, with many people being put off by cost.

“The combination of Berkeley Burke and LV= will enable more people to access convenient, affordable advice through our corporate solutions service. It’s vital we make regulated retirement advice more accessible, particularly for those with smaller pension pots.”

The firm, which provides auto-enrolment, employee benefits, wealth management and Sipps, follows The People’s Pension into a tie-up with LV=.

Under the terms of the master trust’s deal members pay just £49 for a personalised recommendation.

Berkeley Burke’s Sipp business is still awaiting the outcome of a controversial FOS decision.

The Ombudsman initially said the firm failed to carry out appropriate due diligence on a £29,000 Sipp investment but it agreed to look again at the decision in September 2014. The industry is still waiting for its response.



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