According to Skandia consumers are increasingly looking for ongoing financial advice that manages their finances in line with their changing lifestyle and resulting financial requirements. The FSA has also issued clear guidance that advisers must offer an ongoing service if they are going to be remunerated by trail commission.
The new service will provide practical assistance on a variety of topics including developing robust investment processes and building value into a business. The firm says the service was created in response to the changing nature of the advisory market and demand from key advisers.
The team, headed up by UK head of platform sales Gary Stirrup, will work in conjunction with Skandia’s regional team comprising over 100 consultants and 140 support staff across the UK.
UK sales director Dave Chessell says: “The launch of this new service is part of our ongoing commitment to financial advisers to add value in areas that really make a difference. We know from working closely with growing businesses that they have specific challenges and this new team has been established to support them in meeting their broader strategic objectives.
”Through the platform paper, the FSA has made clear its interest in making sure that advisers are using platforms appropriately and advisers can expect to see a definite focus on the question of platform suitability. Skandia is committed to helping advisers address suitability in line with both TCF and FSA guidelines.”