Foster Denovo has launched a general insurance division, saying there is a clear case to combine insurance and financial advice to better serve clients.
Launching today, Foster Denovo will aim to provide business and personal insurance policies to both new and existing clients.
The firm says the division will work closely with its existing IFA services to ensure it has a complete understanding of a client's needs.
Foster Denovo is working with Devizes Insurance Brokers, a specialist with 30 years experience, to ensure it offers the full spectrum of business and individual insurance policies.
The firm says it will enable better underwriting and, ultimately, lower prices for consumers by gaining an in-depth understanding of their needs and circumstances.
Kevin Kinder, head of Foster Denovo General Insurance, says: "Like financial products, insurance is not a commodity and, more often than not, individuals find there is no substitute for taking advice that relates specifically to their personal circumstances.
"While price comparison websites have their place, their 'self-service' model requires clients to accurately assess and report their own needs, as well as base their final decision solely on cost. As a result insurers may not get a correct picture of what they are covering."
