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Royal London to launch D2C proposition

Loney-Phil-RLAM-2012-500x320.jpg
Royal London chief exec Phil Loney

Royal London is launching a non-advised direct-to-consumer proposition that will offer simple savings and protection products. 

The proposition will launch in 2014 under the Royal London brand. The firm says the move will create 70 new jobs.

Royal London chief executive Phil Loney says: “The launch of our direct to consumer offering is another important step in driving our company forward and realising our ambitious business strategy. 

“These products mark a logical extension to the group’s overall offering and will help to diversify our customer base.”

Last week, Standard Life announced plans to develop a non-advised direct-to-consumer offering to capitalise on increasing customer numbers due to auto-enrolment.

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Comments

There are 6 comments at the moment, we would love to hear your opinion too.

  1. Hey, simple savings and protection products is my job. ;0))

  2. No big surprise. I expect others will follow in due course.

    Whether this is progress and fewer people seek advice and do it themselves only time will tell.

    It seems to be going that way in my view.

  3. It’s this kind of thing which is the biggest threat to the ongoing survival of the IFA sector.

    I’m not saying that D2C is a bad thing, it has it’s place if done correctly. What worries me is that the big firms such as Royal London and Standard Life will bring their substantial marketing budgets to bear on this and consumers will be left thinking that this is the only option for them.

    Where do IFA’s fit in? How do we make our proposition heard? Those are the things we should be worrying about.

  4. Correct me if I am wrong but assuming Royal London are true to their word they have taken a different approach to Standard Life who are simply preying on existing clients to elbow out IFA’s and protect legacy business?

    If they are bringing needed products/services to the market then this can only be positive – right?

    Of course if this is smoke and mirror and Royal also target legacy business then I take back part of my comment 😉

  5. How else will they manage to flog Scottish Life pensions (simple???) now that adviser charging is a dead duck?

  6. hope its better than the pile of rubbish they promote in the offshore market 🙂

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