Running for cover: will networks follow Tenet's PII lead?

Three quarters of advisers will not have liability cover when they retire – and most plan on taking their liabilities to the grave. These findings, released by the Association of IFAs (AIFA) as part of its campaign for a reintroduction of a complaints long-stop, found 30% were unable to obtain it, while 44% said it was too expensive. So Tenet’s claim last week to be the first network to offer comprehensive run-off cover for its retiring advisers was an interesting one, especially given its relatively affordable cost. Cover for life? On payment of what Tenet said would be the equi...