Watson said increased regulation had driven major changes in the financial services industry and there was now a gap in the market.
“The resultant shift by advisers towards more established brands and well regulated products has been accompanied by an overall reduction in choice of product providers.
“I am often asked by advisers why more providers are not entering the international market.
“Provisca will work in partnership with a range of providers to bring products with a proven track record to this market, in line with both advisers’ and consumers’ demands for flexibility, price and value.”
Watson added the plan was to “grow a team of relationship managers who will operate globally, territory by territory”.
