The network has also been allowed to sell pension and investment products.
This is Vision’s first step towards diversifying into the wealth management arena with a preferred panel offering.
The company has put in place a number of firms that can already sell pensions and investments and will host 100 training events aimed at upskilling existing members who want to add the option to their proposition.
Christopher May, director of Vision Network, says: “We are delighted to have finally received our permissions from Canary Wharf and look forward to rising to the challenge of diversifying into pensions, investment and protection avenues.
“This is the perfect time to migrate our own vision into the industry. Talk of intermediaries diversifying into other markets is rife and as a major player in financial services we need our voice – I think a change is needed in the industry and we are looking to shake up the advisory market and bring freshness and inventiveness to the table.”
Clerical Medical, Legal & General, AXA, Zurich, Standard Life, Sterling and Cofunds have all been selected for Vision’s Investments panel.
For pensions, Clerical Medical, Standard Life, Norwich Union, Scottish Equitable and Legal & General have been appointed to work with the network and its large pool of advisers.