Pure protection sales by retail investment firms -Clive Waller

The FSA are being eminently sensible and proposing to allow commission for pure protection sales under ICOB AND COB now, subject to commission disclosure. Well done FSA! As a result, more rather than less people will have the vital protection needed for financial security. Indeed they have gone further. They are sticking with their proposal raised in CP09/31 to look at poor outcomes for customers where critical illness and income protection is sold (or not). They have noted that a significant proportion of advisers don't recommend all three protection products when appropriate (guess wh...