View more on these topics

LV= pilots robo-advice paraplanner service

robot

LV= is trialling a robo-advice paraplanner service with advisers and says it has a pipeline of 40 deals with businesses wanting to access its online advice service.

Retirement solutions managing director John Perks says LV= is already using a version of the robo-paraplanner and is in discussions with clients about using the technology.

Perks says: “We are excited about the creation of a robo-paraplanner where we think we can help advisers create efficiencies in their back office and allow back office staff to provide full, regulated advice by working alongside our algorithms.

“It is in a position where we are in discussions with clients and we are using a version ourselves. We are just polishing the front end of it so it integrates with back offices. It is in a usable form now so we are trialling that with a number of advisers.”

Perks says LV= has 40 potential deals with either insurers, pension schemes, or employee benefit consultants that want to access its online advice service Retirement Wizard, or the white-labelled Wealth Wizard version.

LV= has already signed agreements with B&CE, Key Retirement Solutions, Reassure and Berkeley Burke.

It signed a deal with Capita in July.

LV= announced its interim results today, reporting an increase in operating profit in its life and pensions business from £12m for the first half of last year to £28m as at 30 June.

Recommended

Business-General-Handshake-Hire-Appointment-700x450.jpg

LV= names pensions boss as chief exec

LV= has appointed life and pensions managing director Richard Rowney as its new chief executive. Rowney succeeds Mike Rogers, who announced he was leaving the mutual in April. Rowney will take up the chief executive role later in the summer, following a short handover period. He joined LV= in 2007 as chief operating officer, and […]

Job-Interview-Business-Finance-Meeting-700.jpg
2

LV= calls for compulsory guidance to tackle ‘mis-buying crisis’

The Government should force savers reaching retirement to take guidance if they do not have a financial adviser, LV= says. In its response to the Treasury’s consultation on public financial guidance, the mutual says low take up advice is creating a “mis-buying crisis”. In the March Budget the Government revealed it is to create two […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment