The protection industry is expecting a reduction in the number of IFAs post RDR of from 20-50%, depending on the survey chosen. Will this impact on sales of protection and will this prompt the resurgence of in-house sales forces - the man from the Pru?
I am sure the widely quoted and increasing ‘protection gap’ is already more a function of diminishing adviser numbers than it is a reflection of changing consumer needs or perceptions. Adviser numbers have shrunk dramatically over the last 10 years. A further reduction in IFA numbers (and it is difficult to imagine there will not be one), will inevitably impact on sales of protection. There is a chance that the impact of the absolute reduction in numbers may be diluted by some investment and pension advisers moving to what they may see as a less onerous regime. That brings its own challe...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
