Nationwide Building Society has signed a new single-tie agreement with Legal & General to provide its members with investment products and services.
In a statement released today, the society says it wants to become “the leading high street provider of financial advice” and will create around 150 new jobs to support and advise customers. Tne building society already has a deal with L&G for certain investment and protection products, the new agreement extends the investment partnership until 2016.
The agreement follows a recent review conducted by Nationwide into the financial advice and investment solutions it offers in response to the RDR.
Nationwide divisional director for savings and investments Robin Bailey says: “RDR signals a major change for the whole industry. Over the last year, we have been reviewing our strategic options and have concluded that Nationwide is best served by staying with a partner that is already providing us with excellent support.
“With the increased number of advisers on hand, Nationwide is well placed to provide professional support and guidance to consumers who are interested in investing for the future.”