Some 40% of IFAs plan to take on a protection paraplanner to boost the commission they receive from protection business post RDR, according to research.
The research, conducted by Protection Review, found that 40% of the 764 IFAs it questioned were planning to take on a protection paraplanner as they prepare to sell life insurance, critical illness and income protection products following the introduction of RDR. Protection products do not fall under RDR rules banning commission. According to recent research from Coredata, a quarter of UK advisers who charge £100 or less for their services face a 40% drop in income from 1 January next year when RDR is implemented. Chief executive of Protection Review Kevin Carr said that, even thou...
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