Cheapest is not the only way in protection, Ombudsman tells PDG

While many reading this will say that they have no hesitation in recommending protection solutions they think are the best value, we do hear advisers complain, dare we say especially at networks, that their compliance officers sometimes prohibit them from doing what they think is the right thing. The compliance rationale for doing so is that the FOS have made decisions against firms where the adviser has gone for a more expensive solution than they could have. Alan listed the following examples: 1. A joint life or two single life plans? Many advisers prefer a couple to take two single...