UK-based Legal & General Group (L&G) has established a new Private Client Solutions team to offer tax solutions to high-net-worth (HNW) clients of discretionary fund managers (DFMs).
In the new team, three people will be responsible for meeting advisers and DFMs face to face to discuss tax solutions for HNW individuals, two people will be responsible for the same through the telephone, and further staff will provide sales and admin support to the team, reported IFAonline.
The team will deal with client tax scenarios with DFMs and advisers, and will promote L&G’s own range of tax products, including offshore bond, self-invested personal pensions (SIPPs) from its SIPP business Suffolk Life, as well as protection cover from L&G Assurance.
Liz Walkington, proposition manager at L&G, was quoted by IFAonline, as saying that the new team will act as an intermediary between the DFMs and advisers.
"We will suggest product solutions, and we are trying to get our products in front of DFMs and advisers, but it’s generally about giving them ideas they may not have thought of," Walkington added.