Aviva: Regulatory guidance holding back demand for D2C platforms

Aviva head of platform Tim Orton says a D2C self-service proposition is "still on the cards" for the firm but ongoing regulatory guidance is delaying advisers' potential use of the offering.

Last year, the firm said it intended to launch a D2C proposition in early-2015 in order to fill a gap in the market left by the Retail Distribution Review. However, Orton said guidance from the Financial Conduct Authority (FCA) means advisers are still unsure how to position themselves in the marketplace and how much they would benefit from a self-service option. "We are still looking at that and are working with advisers to find out what they want and would find of use. There are potential options, but the problem is advisers are still evolving their frameworks. The FCA is deeming mo...