Prudential  

Prudential advice business goes live

Prudential advice business goes live
 Tom Hegarty and Chris Haines

Prudential Financial Planning has launched its self-employed arm with 25 advisers, allowing advisers to set up their own business under the Prudential brand.

The Advice Partnership (Tap) will allow all advisers who join it to initially use Prudential's wrappers, investment solutions and annuity and protection products.

At launch there are 25 advisers joining from the company's 360-strong advice arm, Prudential Financial Planning, who will build their own business under the partnership and after a minimum of five years will have the option to sell it to another partner.

Prudential said there are plans in place to grow the partnership both in terms of adviser numbers and the range of products and wrappers accessed under the brand. 

Tom Hegarty, director at The Advice Partnership, said: "The partnership will play an important role in the growth of the financial advice sector by supporting and developing our advisers.

"It gives them the tools to be able to provide a wide range of clients, who potentially would not otherwise have accessed professional financial advice, with a profitable and cost-effective service that meets their needs.

"I’m excited to welcome the first advisers to The Partnership and wish them every success in their new business venture with us."

Mr Hegarty joined PFP from his role as managing director at the New Model Business Academy, a not-for-profit subsidiary of the SimplyBiz Group.

Chris Haines, chief executive at Prudential Financial Planning, said the new business would aim to support advisers in growing their businesses in a way that suits their own longer-term career plans.

Mr Haines said: "With The partnership we aim to offer a consistently high-quality advice service to a wide range of consumers by benefiting from the efficiencies and economies of scale that come with being part of a larger organisation."

rachel.mortimer@ft.com 

What do you think about the issues raised by this story? Email us on fa.letters@ft.com to let us know.