Royal London-owned wrap Ascentric is soft-launching its adviser self-direct white-label proposition with around 50 firms over the course of 2013.
Speaking at PIMS on board the Aurora last week, Ascentric managing director Hugo Thorman said around 50 firms have shown serious early interest in the proposition.
Ascentric will soft-launch the proposition with the first adviser firm in June.
Thorman said: “If things go well we would hope to have all 50 of those firms using the proposition by the end of the year, but obviously it is in a test phase so we will have to see how things progress.”
Thorman said part of the early testing of the proposition has been to make sure clients do not think they are receiving advice.
He said: “We need to make sure we are not crossing the line into a situation where clients think they are receiving advice, that is one of the most important parts of the development.”
PMI Independent Financial Advisers director John Stewart says: “It is difficult for smaller firms to have this kind of thing in place, although it could work for medium and large adviser businesses.”