The advisory community has to “get over” the restricted versus independent argument and think about the client, Doug Bennett has said.
The owner of West Sussex-based DB Financial was commenting in the wake of advisory network Personal Touch’s announcement of its new restricted proposition today (20 November), at its conference in Birmingham.
Mr Bennett, a Personal Touch member, said the network’s move to a restricted model earlier this year, and the subsequent announcement of a more streamlined proposition today, had been a positive move.
He said: “It’s business as usual for our firm. We have to get over the term ‘restricted’, we have a proposition which is actually very wide, all the main providers are on the panel.
“What is more important for the client is not whether they are restricted or independent, but rather that we look after the customer’s goals and dreams.”
Brendan Dixon, owner of London-based BKD Wealth Management, added that another factor in favour of this type of proposition was that it allows him to spend more time financial planning and less time choosing funds.
The network launched the restricted panel and platform propositions on Wednesday for its 45 member firms who offer pension and investment advice.
Providers include:
• Platforms: Aviva, AXA Elevate, Funds Network, Skandia.
• Discretionary fund managers: Brewin Dolphin, Brooks Macdonald, Close Brothers, Quilter Cheviot
• Annuities: Aviva, Canada Life, Just Retirement, L&G, LV, MGM Advantage, Partnership, Prudential
• Specialist Sipp: James Hay, Sipp Centre, Suffolk Life
• Structured products: Investec, L&G, Morgan Stanley
