Around eight in ten protection advisers expect Consumer Duty to result in improved consumer experiences and a greater focus on quality over price when recommending policies, according to new research from challenger insurer Guardian.
A survey among 800 financial advisers found that 84% of respondents believe the new guidelines, set to come into force next week (31 July), will see portals and associated product analysis services become a more important part of the selection process due to the rule's emphasis on fair value. Meanwhile, 83% expect Consumer Duty to improve consumer experience of protection and 81% said it will result in more advisers focusing on quality over price when recommending protection. While 40% of advisers expect to recommend more policies, more than half (58%) said they do not anticipate any ...
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