View more on these topics

Execution-only will retain poorer clients after RDR

Adviser firm HHPG Wealth Management is launching a direct-to-consumer proposition next month aimed at clients who cannot afford advice after the RDR.

The Cardiff-based firm is looking to offer execution-only functionality across pension, investment, protection and Isa products, as well as a general insurance offering.

Director Richard Harry says the firm, which has 18 advisers, expects the service to be used by clients who will no longer be able to afford advice.

He says: “Advisers must look to offer execution-only services to try and retain those clients.”

The firm has so far set up agreements with Partnership to deliver its direct annuity offering and Legal & General, Bright Grey and Friends Life to supply protection products.

The annuity service will cost £250 per transaction, the investment service will cost between 0.15 and 0.2 per cent of assets invested and the protection service will cost £15 per transaction.

HHPG is in talks with Cofunds and Axa over who will provide the white-label technology on the project.

Jacksons Wealth Management managing director Pete Matthew says: “I think it is inevitable that advisers look to the execution-only space as part of their service. Millions of people are looking for online direct services and advisers want to take a piece of that business.”


Chris Gilchrist: We need an inquiry

Who will guard the guards was a key question in Plato’s Republic and has regularly resurfaced in politics ever since. Because democracies have to entrust power to agencies acting on behalf of the people, it is vital that these agencies are held to account. The FSA is exactly the kind of guardian that most people […]

The great divide

It is encouraging to see Zurich and Aifa picking up the cudgels in the battle for the restoration of the 15-year long stop, a crusade that I and many others have been pursuing for over five years. Maybe Aifa has finally turned the corner and will start fighting for important issues that were previously ignored. […]


Top regulator says ‘dangerous myth’ of free banking must end

Bank of England executive director Andrew Bailey will today warn free banking is a “dangerous myth” and reform of the retail banking industry cannot go ahead unless the issue is tackled. In a speech being given today at the Westminster Business Forum in London, Bailey will say the free banking customers believe they are receiving […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm