14th September 2012
Bright Grey: Tap into the protection opportunity
When RDR comes into force, your investment clients will pay you a fee for your advice. A recent survey by CoreData suggests that there’s a significant difference between the fee you expect to charge and what customers will be willing to pay.1 For example, advisers estimate the average cost of advice for an investment of £25,000 at £893. However, clients say that they're only willing to pay £399 for that same advice. This could leave many of you with a big gap in your income while you get settled into your new business model. Because protection policies aren't affected in the same way by RDR, if you set up a plan to protect your clients' investments, the commission you earn could fill the gap between what you'd like to charge and what your clients expect to pay.
Bright Grey’s Personal Protection Menu works perfectly with your clients' investments, as it offers total flexibility of terms, amounts and cover types. And it can be easily updated as their investments grow and develop.
Visit www.brightadviser.co.uk/RDR for information from Bright Grey’s head of products and technical support, Ian Smart. He shares with you his thoughts about how you can use protection with your investment and pensions clients to bridge the gap, and leave you with a steady income stream.
Source: CoreData Research, March 2012.
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