The top five intermediary platforms will likely show their hand on protection propositions in the second half of the year, a technology and consultancy firm to the major intermediary platforms has reported.
Howard Finnegan, head of sales at Altus, said most of the big names would at the very least be considering how to bring protection into proposition.
He said: "They are waiting for RDR to shake out. Some do have a change agenda for this year but it will be the latter half of the year we will see any developments.
"There are a number or drivers but the main one is that it is important protection, especially with long-term care, is brought together with the whole picture. These are substantial financial decisions and there should be a proper view of everything together."
Chris Bryans, managing director of chartered adviser firm Ariun Financial Consulting, said the challenge with platforms was always cost versus benefit to clients.
He said: "It is not necessary to have all client assets on a platform because you will end up paying more for that service than the asset is worth. Personally I cannot see the value for say £30 life cover.
"It needs to be kept in mind that platforms were designed to benefit advisers directly and that does not always translate into benefit for the client."
Finnegan said implementing protection on platforms had its challenges including; the FSA's regulatory view of platforms as investment vehicles; and integrating administration systems to support the capability.
"Not having protection on platforms will become a bigger issue as RDR settles in; good advisers will want the option to look at the whole picture for clients," he added.
