Friday, 14 March 2014

The Times launches partnership with Bestinvest

The Times and Sunday Times newspapers have launched an "execution only" and financial advice service with Bestinvest. TheTimes Wealth Management Service is essentially a white-labelled version of the Bestinvest offering and is subject to the same charges. 

The partnership covers a range of services:

  • A non-advised online service
  • Personal advice from a Bestinvest advisor
  • Model portfolios run on a discretionary basis
  • A full wealth planning service including advice on pensions and IHT

The broadsheet newspapers have been regarded as a strong channel to provide financial advice services; in part reflecting the demise of advice through the high street banks. 

The Telegraph has been offering similar services for some time and works with St James's Place for Wealth Management and Skipton Financial Services (SFS) for its Investment Advisory Service, Fund Supermarket and IHT advice.  

Tuesday, 4 March 2014

L&G re-enters the motor market with Junction

Legal & General has announced its return to the motor insurance market, following its partnership with Junction, the affinity arm of BGL Group. This time it will operate as a distributor rather than an underwriter and it will be backed by a panel of 14 motor insurers. 

L&G has ambitions to achieve 100,000 policyholders within 3 years, which it is hoping to achieve partly through direct sales (it has over 7 million customers of its own), but more probably through price comparison websites. 

It has spoken of the "development of some exciting car insurance propositions", but it will be interesting to see how effectively these can be delivered within a panel model and in such a price-competitive market.  

L&G announced its intention to re-enter the motor market in March 2013.