Menu protection plans will help advisers combat the increasing competition in protection business from non-advice distribution channels such as supermarkets, according to Defaqto.
The research company’s latest report – Menu Plans – The Protection Platform – says advisers need to focus on providing long-term solutions for their clients and argues menu protection plans will be an important tool in enabling advisers to demonstrate they are adding value. It believes the industry should develop a platform proposition to allow investment, banking and risk products to be managed on a single platform because, it argues, developing separate platforms for each area is inefficient and does nothing to encourage holistic planning and efficient future-proofed advice. Evidenc...
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