Charles Stanley this week of May 22 unveiled its own hybrid advice tool. For £900 the firm get on a zoom call with a customer, and give them broad guidance.
Presumably this involves fact finding as well, with a view to a second meeting if this first meeting works out okay.
“This service is a first step for people who need hands on guidance with the reassurance of a professional to talk to. It offers a digital and convenient service, without losing the human touch of talking through individual circumstances. The aim is to help more people to get the advice they need and support them to reach their future goals.”
So says the firm that has just been bough (for a song) by Raymond James the US investment firm.
I notice a number of trends in retail financial services over the last decade.
One thing is true. When it comes to retail financial services, IFAs have the best set of cards in your hands. You are the gatekeepers, and if you're a fund manager and want retail net inflows - you are not going very far without involving an IFA.
Chairman of IFAC