How will people buy insurance in future? Greg Becker visits the US for developments in online distribution.
With about 15,000 financial advisers being RDR-qualified by the end of 2012, and with the UK population standing at 62 million, simple arithmetic suggests that 4,000 people will be served by each financial adviser. While many people will not have the funds to purchase a wide range of protection and savings products (children, for instance), it is fair to say that not everyone is going to receive costly financial advice from RDR-compliant financial advisers. Yet the need is large, so how will people get advice? The UK industry already has a thriving price comparison market, which is...
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