New research from Scottish Widows shows that financial advisers are not seeing more desire for protection products from clients despite the impact of the pandemic.
Research carried out among 200 IFAs in July this year found that 74% of respondents the number of client-initiated conversations about protection products had "remained stagnant" since before the onset of the pandemic. Despite the impact of Covid-19 causing issues such as reduced working hours, financial hardship and illness, only "a small proportion" of advisers said that their clients are proactively asking for professional advice on critical illness cover (7%) and life insurance (8%). Promoting...
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