Protection products need 'fundamental' design and distribution shift post-RDR - Avelo

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Avelo has added its weight to those predicting protection sales will grow with IFAs increasing focus to it after the Retail Distribution Review (RDR) is introduced.

However the technology services business, formerly known as 1st Exchange, believes providers will need "a fundamental shift" in the design and distribution of these products. This includes the need to produce new "agile" systems to take advantage of the market growth. Paul Yates, strategy and business development director at Avelo, felt recent speculation on the future of the protection market could not have come at a better time. "RDR is likely to generate increased attention on the protection market," he said. "Indeed, the overwhelming response from our provider clients (80%) ...

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