With the Government publicly looking to significantly cut welfare benefits spending, is it compliant with regulation for advisers to be raising clients' awareness of this and using it as a tool to increase protection sales, bearing in mind that the widows tale is not compliant?
Mark Jones, LV= Absolutely. The role of the professional adviser is to explain to clients what risks they are running and how to protect against the financial impact of those risks. This is their raison d’être. Cigarette packets carry the warning ‘Smoking Kills’, not everyone who smokes will die from smoking but it is a perfectly reasonable message to create awareness among smokers of the extra risk they are exposing themselves to. The cuts in welfare spending will not prevent all clients from receiving welfare benefits but it is equally reasonable to point out that with less money ...
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