LV= appoints auto advice head

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LV= has appointed David Stevens to the new role of head of automated advice strategy.

He will be responsible for the development of the mutual’s new online retirement advice service, Cora.

The firm is aiming to partner with advisers and corporate schemes to offer savers automated recommendations online.

Stevens has worked at LV= for nearly 20 years, most recently overseeing the integration of advised and non-advised products and services.

LV= retirement solutions managing director John Perks says: “It is great to have someone with David’s pedigree and experience leading on the roll out of the first regulated online retirement advice service in the market.

“David has a wealth of experience in delivering customer focused solutions which will help to ensure that Cora and future innovations are successful.”

Stevens says: “The development of Cora was an incredibly ambitious project and it was a great one to lead on.

“I’m looking forward to the next opportunity in ensuring that advisers and corporate partners are aware of CORA and the benefits that the service could give them.”

Cora users are charged £199 for online retirement income recommendations, which could include taking no action, buying an annuity, entering drawdown or a variety of products.

There is an additional £499 fee for executing the recommendations.