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Egg planning online advice link-up

Prudential&#39s online fund supermarket Egg is to offer independent advice on its website with a link-up with an IFA the most likely option.

It is in negotiations with a number of IFA firms.

Egg has not ruled out setting up its own IFA division but says it is unlikely in the short term due to the costs of training and support systems. It initially wants to offer advice on Isas and banking but is considering a wider range over the medium term.

Any advice would be independent and not come dir ectly under the Egg brand.

It believes introducing advice under current polarisation rules will mean it may have to amend the online links to Pru&#39s fund management operation M&G.

Head of risk and compliance Richard Warrington says: “Advice is certainly on the horizon but we are at very early stages. We are discussing with the regulator the best form that advice should take.”

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