Winterthur Life is teaming up with a management consultancy to provide IFAs with an advisory service ahead of depolarisation.
The deal marks an extension to Winterthur's existing Professional Edge IFA package and will put advisers in contact with management consultants who can help them develop business plans or convert to a fee-based model.
Winterthur says its research shows there are 500,000 high-net-worth individuals with over £250,000 liquid net assets who do not take advice from IFAs or stockbrokers.
The firm's IFA support tools are also being expanded to incorporate a with-profits portfolio modelling tool and bespoke assistance with developing intranets. Sales director David Thompson says with-profits is still the biggest asset class and its expanded portfolio balancer tool will help IFAs plot clients' overall asset allocation.
He says the link-up with a management consultancy, as yet unnamed as the deal is still being finalised, will feature alongside Winterthur's existing partnerships with Fee Based Advice and Forsyth Partners.
Thompson says: “The vast majority of asset allocation tools cannot include with-profits in their models. IFAs need to look closely at with-profits asset allocation because the high level of gilts in some funds may not be suitable for their client's risk appetite.”