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What are the changes?

Previously, we’ve only been able to pay your on-going adviser fees on a quarterly basis. From January 2024, we’ll begin calculating them on a monthly basis for our Core proposition.

This means that from February 2024, you’ll receive monthly on-going advice fees from any clients you have fully invested in our range of Core funds within the LV= Flexible Transitions Account.

The amount you are paid won’t change, it will remain as per your client agreement. 

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What about clients not invested in Core funds?

For clients holding funds with Discretionary Fund Managers, including funds with our panel of Discretionary Fund Managers, or Self-Investment, your adviser fees will continue to be paid quarterly. 
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Have my clients been told?

Yes, we have written to any clients who are impacted by this change to inform them of the changes and what it means for them. 
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What about clients not invested in Core funds?

For clients holding funds with Discretionary Fund Managers, including funds with our panel of Discretionary Fund Managers, or Self-Investment, your adviser fees will continue to be paid quarterly. 
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Is this a change to my clients Terms and Conditions?

No, this change doesn’t impact the Terms and Conditions that your client has agreed to. 
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Why are we making these changes?

We’ve listened to the feedback from our adviser community, reviewed our current practices against market standard, and decided to switch to paying monthly adviser fees. 
We’ve found that the majority of the business placed in our Flexible Transitions Account fits into the Core/Insured Funds category and so we hope this improvement will meet the needs of the majority of our advisers and your businesses, with little to no impact on customers.
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Is this a change to my clients Terms and Conditions?

No, this change doesn’t impact the Terms and Conditions that your client has agreed to. 
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Where can I get more information?

For more information, please speak to your usual LV= contact. You can also contact us by email or phone.
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