Providers fail to meet IFA service standards

The report, Protection Service in the UK, is based on a survey of 500 IFAs and identifies what IFAs consider the most important service functions from a total of 39 examined and what they consider to be the industry’s preferred protection suppliers. The most important satisfaction criteria to IFAs are new business administration, claims administration, staff competence and integrity. By combining importance with industry performance, Defaqto says IFA expectations are being met in only three out of the 10 most important service functions, while expectations are being exceeded in other le...