Bancassurers to give 'orphaned' IFA clients a home

Speaking at the Tax Incentivised Savings Association (TISA) seminar in London, Paul Shelley, head of product development at HBOS, says the RDR will be a good thing for the bancassurance sector which, in turn, will give consumers who no longer suit IFA advice a place to go. "Some customers will not be suited to IFA advice anymore; therefore some bancassurers will pick up the role of giving advice to these people," he said. Shelley adds the RDR, a consultation on which ends in June, will "clean up" the bancassurance industry, helping to improve its reputation. Bancassurance, borne out o...