Life/risk advisers drift towards holistic advice

Many life/risk focused advisers will shift their focus to holistic advice in the wake of the changes generated by the Trowbridge Report.

That is the bottom line of research conducted by Investment Trends and released at Money Management's Platforms and Wraps Conference at Magenta Shores.

Investment Trends Head of Research, Wealth Management, Recep Peker, told the conference that the Trowbridge findings had genuinely impacted life/risk advisers and their intentions.

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He said they had signalled that they would be reducing their delivery of insurance specific advice and moving towards the delivery of comprehensive advice and charging more for it.

Peker said Investment Trends research had also pointed to advisers spending more time on advice delivery.

He said planners were also encouraging clients to use the internet and tablet device to self-serve, but it would be wrong to suggest this meant directing clients to other sources.

Rather, Peker said the encouragement was towards self-service within the advice relationship by going online and getting engaged in their investment decisions.

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