Product provider Aegon has distanced itself from a view attributed to its head of marketing that advisers have been "disintermediated" and that its future lies in direct relationships with consumers.
The insurer said advisers are "central" to its business and that professional advice is "valuable" for those with access to it.
It follows an interview with Deloitte Digital partner Sam Roddick on marketing website CMO.com. Deloitte worked with Aegon on developing the provider's direct-to-consumer (D2C) proposition, Retiready.
According to the website, when asked what the "driving forces" behind Aegon's project were, Roddick credited the group's chief marketing officer David Macmillan.
The brokers were being disintermediated because they weren't adding value
Roddick said: "David realised that the industry was changing, the brokers were being disintermediated because they weren't adding value and because legislation was saying they couldn't take commission from the organisations whose pensions they sold.
"Most consumers are unwilling to pay for advice, so previously brokers and pension advisors (sic) were paid around the back by the pension provider. Legislation stripped that away."
Roddick continued: "David realised that Aegon really needed to have a direct relationship with the consumer."
An Aegon spokesperson said the comments "do not accurately reflect" Macmillan's or its views on the advised and D2C markets.
Though it needs to respond to the changing needs of customers, advisers are "central" to its business, it said.
"Retiready is designed for customers who feel they don't need, or can't afford financial advice and who want simple products and like the accessibility of a digital service. We want to work with advisers on getting the UK ready for retirement and believe Retiready can be complementary to this.
"If we can get people saving, many of those customers with relatively modest savings will over time come to build their retirement pot and their financial needs will become more complex as their assets grow.
"Once they get to these decision points, they are likely to require an adviser and Retiready already prompts customers at certain decision points to consider whether they may benefit from financial advice."
Contact
Concerns among advisers about provider contact with clients they introduced to them has heightened since the Retail Distribution Review.
Aegon was criticised in June for writing to thousands of customers asking if they were still in contact with their adviser. Its policy at the time was that, should it receive no response from the customer, it would shut the agency and stop paying trail commission.
It has since backtracked on its stance and will now act only if instructed by the customer.
