In the first of a series of articles, Nathaniel Lee, managing director of Business Protected, examines how engaging with business protection products can help advisers meet their Consumer Duty obligations, particularly in the context of the cost of living crisis.
By now, all of us in the financial services industry should be familiar with the new Consumer Duty regulations that came into force at the end of July; the work that our firms have put in to make sure we deliver good customer outcomes has been considerable. Consideration of business protection is a logical extension of the Consumer Duty; these policies can deliver good customer outcomes, deliver fair value, and support consumers in achieving their financial objectives. Good consumer outcomes, as the central tenet of the Consumer Duty, will drive advisers further towards holistic advic...
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