Legal & General has warned that advisers could be vulnerable to complaints action is they fail to ensure that business protection clients have completed the correct legal paperwork.
It feared that if intermediaries did not confirm shareholder protection clients had completed a cross option agreement to enforce the purchase of shares by a dead person's business partner they could be...
'Rely on plan B'
Tom Baigrie, the chief executive of protection broker LifeSearch, has hit out at product providers for pretending to "police" advisers' relationships with their customers, a practice he dubbed "institutional petty theft".
Scottish Widows is considering re-entering the IFA protection market, possibly in 2014.
Almost two-thirds (63%) of small, family-run businesses would not survive the loss of a key member of staff, according to Scottish Widows.
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