Financial technology business IRESS saw a record-breaking month for protection new business in November, with 59,000 applications filled out compared with 49,000 12 months ago.
November represented a further increase in protection new business applications from a record-breaking October, which saw 55,000 applications filled out. From January to November, IRESS recorded more than half a million (565,000) protection new business applications, compared with 508,000 during the same period in 2016, representing an increase of just over 10%. Multi benefit products saw the sharpest increase from November 2016 to November 2017, with an increase of 57% in new business applications....
The Financial Ombudsman Service (FOS) will maintain its current funding model for the next financial year despite recognising it is unsustainable in its current form.
The FCA has confirmed that, while businesses will have to identify certified staff from day one under the Senior Managers & Certification Regime (SM&CR), they will have a year to complete fitness and propriety assessments.
Scott Cadger runs through the four most common reasons people give for not taking out critical illness cover - and some suggestions on how advisers can offer reassurance on each in conversations with clients
The Financial Ombudsman Service (FOS) has sought to provide clarity regarding any potential confusion over the products advisers should recommend to clients to cover a decreasing loan or mortgage.