Simplified advice

Advisers support the introduction of simplified protection products, with 79.4% seeing a place in the market for them, a survey has found.

UK consumers would switch to buying their life insurance on the internet if providers were able to offer professional online advice, a survey conducted for PwC has found.

Keith Churchouse, director of Chapters Financial, plans to launch a simplified advice platform in the New Year after earlier putting the project on hold.

Protection advisers will need to be clear when building simplified advice-style propositions to address basic client needs, an adviser firm has warned.

The emergence of simplified products will need to be clear on target consumer and its impact on more complex product advice, Avelo has said.

The Financial Services Authority (FSA) remains confident there will be a viable simplified advice market post-retail distribution review (RDR) implementation and has said it is already seeing well developed plans.

Clients' protection needs must take priority over investment ones in a simplified advice regime, the FSA has said.