Future of protection may be direct-to-consumer - Le Beau

Protection guru Peter Le Beau says financial advisers will not be best placed to sell more cover because they are either focusing on other areas of the market, such as wealth management, or being pushed out of the industry by excessive regulation. Instead, Le Beau, co-chair of the Income Protection Task Force, says providers "will probably need to go direct" if they want to reach the mass market. The warning comes as Bright Grey joins Aegon Scottish Equitable and Norwich Union as insurers offering non-advised products direct to the consumer. "If the protection industry is to grow, it ...