Nationwide's annuity service adds fuel to debates around restricted advice, small pots and RDR.
As some advisers bicker over whether low net worth clients represent profitable post-RDR business, Nationwide has set out its solution to the small pot question. The mutual will offer commission-based, restricted annuity advice in-branch delivered by QCF Level 4 trained advisers, who can also advise on investments through Cofunds and on protection policies with a minimum monthly premium of £6. Annuities advice at Nationwide is available on pots worth at least £18,000. It will use The Open Market Annuity Service (TOMAS) software to produce client reports. Customers will receive quot...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes