The financial advice arm of insurance giant Aviva has added an investment advice proposition to its services.
This means that Aviva Financial Advice (AFA) clients will be able to receive advice on investments, in addition to the already available offering for pensions, annuities and defined benefit (DB) transfers.
The move stems from customer feedback which showed that they want to discuss wider financial planning with their adviser, not just focus on one specific product or strategy.
The enhanced proposition will be available from 6 May 2021 and will see AFA provide advice on Isas; general investments accounts and/or open-ended investment companies; and onshore bonds.
Customers can seek advice on investments or pensions alone, or both, AFA said.
If the services offered are not suitable, the firm will refer clients to seek whole of market advice.
Mary Harper, managing director at Aviva Financial Advice, said: “We are delighted to announce the addition of investment advice to our advice offering.
“Our ambition is to help bridge the advice gap, so we will continue to look at how we make our advice offering more accessible to more people, whether that is by adding more propositions, if we see the demand, or thinking flexibly about other ways in which people can benefit from advice, whether that’s the full service or a simplified version.
“Whilst cash will always play a part in prudent financial planning, alongside other savings strategies to meet a range of savings needs, in the long run, customers’ financial outcomes can be adversely impacted by an over-reliance on this alone, particularly when interest rates are very low. Not only do they not receive the returns they could do, but the value of cash is eroded through inflation.
“That’s why we’re pleased to be able to provide that advice on investments, broadening the level of support we can offer. Our financial advisers will be able to build a personalised investment plan for customers, tailored to their goals matching their needs at a level of risk and return they are comfortable with.”