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Former Aegon Direct chief joins tele-advice firm

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Former Aegon Direct chief executive James Dean has joined new telephone advice firm The Financial Advice Service as client operations director.

The Leeds-based business aims to bring down the cost of advice by working exclusively over the phone, as well as offering advisers a way to serve customers who are less willing to pay typical advice fees.

Dean says: “We will be giving advice on the basics in financial planning, investments and retirement planning, all over the phone.

“We are also working with a number of IFA firms that are looking for solutions on how to properly serve their lower-value customers.”

Entrepreneur Gary Bell is chief executive of the new firm, while former commercial director
of national IFA Bates Investment Services Jonathan Gains is manag-ing director.

Dean says while some advisers are turning to robo-advice to cater for less wealthy clients, he is sceptical.

Dean left pension income and equity release broker Age Partnership, where he was head of retirement strategy, in June as part of the firm’s move away from non-advised solutions. He was chief executive of Aegon Direct when it was scrapped by the insurer in December 2011.

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