LV contemplates buying small advice firms

LV had revealed that if it cannot facilitate its target organic growth of the in-house advice team, it will be open to acquiring small advice firms to grow externally instead.
John Perks, LV’s managing director for life and pensions, confirmed that: “If we ever feel that it [the advice business] is not growing as fast as our appetite then we may look to add on some small advice firms.”
Perks revealed that the mutual provider intends to add to their in-house advice team by 5 to 10 people per year.
The advice firm gained control over Wealth Wizards, a robo-advisor, in 2015. The new digital systems assist with providing insurance advice efficiently, while the hired advisers tend to have more senior roles providing specialist advice, and to “complement the digital side”, according to Perks.
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