70 DB transfers later: How one South Wales firm sorted its PI renewal

Despite challenges

Sophie King
clock • 3 min read

There is no doubt that advisers are continuously finding the pressure of professional indemnity (PI) renewal a problem as prices rise and confidence steadily sinks. Here Sophie King talks to one firm that has successfully renewed its full PI cover with DB transfers proving no barrier...

Leabold Financial Management, based in South Wales, has recently achieved full renewal of its PI insurance, despite completing 70 defined benefit (DB) transfers, which has proven to be an obstacle for other firms seeking cover. Research conducted by PIMFA found the majority (83%) of financial advice business owners and wealth management chief executives do not have confidence in their ability to secure affordable PI insurance in the future. A little more than half (56%) of the 84 respondents reported their professional indemnity (PI) insurance contained significant restrictions, includin...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Wren Sterling adds £265m in client assets in latest deal

Wren Sterling adds £265m in client assets in latest deal

First advisory firm purchase of 2024 for national financial planner

Jenna Brown
clock 28 March 2024 • 1 min read
Consumer Duty Alliance looks to attract advice industry talent

Consumer Duty Alliance looks to attract advice industry talent

New Talent Alliance will be chaired by M&G Wealth Advice MD Tom Hegarty

Isabel Baxter
clock 27 March 2024 • 2 min read
PA Working Lunches: Register today to hear from SimplyBiz

PA Working Lunches: Register today to hear from SimplyBiz

Join us for an informative session worth one hour of CPD

Professional Adviser
clock 27 March 2024 • 1 min read