Pru reveals self-employed advice arm plans

The proposition for the self-employed arm of Prudential UK & Europe’s financial planning business has been laid out this morning.

It is set to mirror that of Prudential’s wider financial planning business including Prudential’s wrappers, annuity range, protection products and investment solution.

Prudential has not ruled out adding to the proposition over time however.

The arm will be invite-only to begin with, and be named ‘The Advice Partnership from Prudential,’ to be known as TAP.

The self-employed arm was announced by Prudential in January and will be open to up to 30 of the 360-strong advice staff within Prudential Financial Planning.

Those involved will be able to build their own businesses which qualify them for a practice-buy-out in the form of a capital sum pay-out at retirement.

Prudential Financial Planning chief executive Chris Haines says the model will help maintain employment growth for the group.

He says: “Through a self-employed proposition, we can deliver a scalable, cost-effective distribution channel, with the potential to provide step-change growth.”

TAP is expected to launch fully toward the end of the year.


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