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.

Recommended

Ros Altmann
4

Ros Altmann: Without advice Lifetime Isa savers face clear risks

Since it was first proposed, it has been clear to many that the Lifetime Isa is unsafe to sell without advice. Significant dangers arise from the product’s complex design, absence of clear risk warnings, lack of suitability checks and asymmetry of information between customers and providers. The first evidence of such problems is appearing. Lisas […]

Royal London profits up 20% as DB transfers boost pension business

Royal London boosted profits by 20 per cent last year to reach £396m on the back of an increase in pension sales. Individual pension sales increased from £6.3bn to £6.8bn, despite a number of headwinds for the sector as a whole including the end of the auto-enrolment roll-out, turbulent market conditions as a result of […]

Unrated bonds: broadening horizons

Ewan McAlpine, Senior Client Portfolio Manager, provides insight into how RLAM’s bond team use their skills to seek unique opportunities and greater diversity than that offered by traditional areas of the bond market, describing how they invest in unrated securities as well as rated securities to broaden the horizon of fixed income investing. Read the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com