Defaqto’s annual protection adviser sentiment survey finds advisers are using fewer providers, but income protection received an increase in support over the past 12 months.
The impact of protection provider consolidation is being felt by advisers, according to the latest edition of Defaqto's report, with fewer insurers and products being used by advisers compared to the previous year. Among advisers surveyed, the average number of different protection products being used fell from 5.4 in 2020 to 4.8 last year, while the average number of protection providers also dropped year-on-year, from 6 to 4.7. The Protection Services Review 2022 report surveyed 355 advisers between September and October last year, measuring the relative importance of 10 satisfacti...
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