Ascentric to roll out Hargreaves-style direct offering in Q1

Ascentric is launching a direct-to-consumer (D2C) platform for adviser clients early next year.

The proposition, set for roll-out in Q1, will mimic Hargreaves Landsdown by offering a direct platform service to adviser clients.

Advisers will be able to embed the D2C version of the wrap, which is being been developed by IFDL, into their websites.

Initially consisting of a basic offering allowing investors to buy a SIPP, ISA or GIA, a second phase will offer more sophisticated web pages and tools to help clients with investment selections. 

"This is very similar to the Hargreaves model," said Ascentric managing director Hugo Thorman (pictured). "Hargreaves is first and foremost an adviser and our new service will allow advisers to attract clients looking for a direct service."

Thorman, who described the new offering as a B2B2C service, said it is being launched to cater for those clients who will be disenfranchised from financial advice because of the Retail Distribution Review (RDR).

"A lot of clients will not take up the offer of advice because it is too expensive or will not be offered advice because advisers think they will not be able to afford it," he said. "Our new service will enable IFAs to offer clients an alternative."

Ascentric's foray into the direct space comes as Axa Wealth prepares to roll-out a consumer version of Elevate next year.

Cofunds has also set out plans to ramp up its execution-only offering and, as IFAonline revealed recently, is set to sign a deal with a bank imminently.