Aviva to re-activate face-to-face advice arm

The in-house team, set to be in action by the end of the year, will have a “particular focus” on customers seeking advice at the point of retirement.

The team will be restricted to selling Aviva products, including flexi-access drawdown and annuities.

Aviva scrapped its direct advice arm in 2013 as part of a round of cost-cutting, the majority of its 120 field-based advisers were shed and a bancassurance relationship with Coventry Building Society was ended.

Around 10 advisers were retained to continue servicing existing clients but discontinued advice for new clients.

Then, a year later, the firm revealed plans to restart its own advice services focused on protection.

Client advice director Andy Barton said: “The introduction of the pension freedoms means that thousands of people are facing important decisions about their financial futures.

“With this in mind, we are developing an in-house advice team to complement our existing channels and provide our customers with the support they need.

“Customers can already buy our products through independent financial advisers, high street banks, and direct via the internet or over the phone, so this latest initiative will give them even greater freedom and choice.”

He added: “We take great care to ask customers if they already have a financial adviser, and if so we recommend that they speak to them in the first instance.”