A mortgage geek and protection nerd with a passion for cycling and over 25 years’ working in lenders and brokerage firms. Scott has been a VouchedFor Top Rated Adviser every year since 2019, as well as serving on the Association of Mortgage Intermediaries board and their Protection Specialist Group. He’s a member of the London Institute of Banking and Finance, holding their Diploma in Mortgage Advice and Practice, as well as being signed up to their CeMAP Advanced Professional program.
ok clients always look at cheapest human nature
I can tell you what the problem is its the Regulator.
Its no use saying to the client we recommend you take something out , because the Regulator does not want to Insist they do
Until that changes, and is the main reason for the disaster of a welfare system we have nothing will change.
David, we currently have the FCA more engaged with Protection than they have ever been and they are making it clear that value, based on more than just price, should be the focus adviser’s recommendations.
Also, I would suggest advisers can encourage clients to look at protection differently By showing them a comparison of quality and price IE value when generating a table of products for consideration.
I believe that the reason clients want to buy the cheapest is that the profession wants to sell them the cheapest. There are lots of factors that have created that culture but that is the reality. Consumer Duty is helping to move that dial but there is a long way to go.
ok clients always look at cheapest human nature
I can tell you what the problem is its the Regulator.
Its no use saying to the client we recommend you take something out , because the Regulator does not want to Insist they do
Until that changes, and is the main reason for the disaster of a welfare system we have nothing will change.
If it does Money will not be an object
David, we currently have the FCA more engaged with Protection than they have ever been and they are making it clear that value, based on more than just price, should be the focus adviser’s recommendations.
Also, I would suggest advisers can encourage clients to look at protection differently By showing them a comparison of quality and price IE value when generating a table of products for consideration.
I believe that the reason clients want to buy the cheapest is that the profession wants to sell them the cheapest. There are lots of factors that have created that culture but that is the reality. Consumer Duty is helping to move that dial but there is a long way to go.