22 Sep Former Aegon Chief Sets Up Firm to Target RDR Hit Businesses

The former chief executive of Aegon Direct, James Dean, has announced that he is to develop phone-based and online mass-market advice service that he hopes to target squarely at businesses that have lost profitability in the wake of the implementation of the RDR. The business, which will be called Decide2, will see IFAs being paid a percentage of any revenue that results from introducing clients, however the firm is still in the gestation period, with Dean claiming that he is not yet sure how long such payments would be made to advisers. The company will work to determine what level of advice a potential client would need, working with them to aid them in a return to profitability. They also claim that they will take full responsibility for any and all advice handed out through the service. Clients will then be charged based on the level of advice and service that they received. Dean commented on the venture, stating "Rather than just orphan clients, Decide2 is a way of servicing clients while still gaining value from them."