Suffolk Life is developing a range of RDR-ready savings products for Legal & General ahead of the 2013 regulatory reforms.
L&G says it is working with its Sipp arm Suffolk Life to develop a series of fee-based products for advisers.
A spokesman refuses to confirm details but says: “We are working closely across all our various business functions to ensure we harness the most appropriate approach for RDR-ready products across every sector of our business and for each distribution channel.”
Speaking to Money Marketing, Legal & General group executive director for protection and annuities John Pollock says the provider is “well advanced” in its preparation for the RDR.
Pollock says: “L&G is very well advanced in its preparation for the RDR and we are already comfortable operating in the fee-based arena.
“We are investing quite heavily to develop the capability to deliver RDR-ready products to advisers and Suffolk Life is part and parcel of that process.”
Syndaxi Chartered Financial Planners managing director Robert Reid says: “It makes sense for L&G to harness the capabilities of Suffolk Life in doing this.”