- Disagree (46%)
- Agree (38%)
- Not sure (16%)
Our latest poll results suggest optimism around the future of life insurance advice is a ‘hit-and-miss’ proposition among Riskinfo readers.
As we go to press, a lack of optimism for the future of the sector is the predominant feeling among the adviser community, with just over half (51%) disagreeing with the our poll statement. Meanwhile, 35% say they’re more optimistic than they were a year ago, with the rest undecided.
Some further clarification was provided late last week around what the requirements would be that accompany Michelle Levy’s recommendation to retain life insurance commissions – clarification that will ease concerns in some quarters around what was thought might be even more red tape associated with client consent (see: Risk Commissions – Clarification on Informed Client Consent).
…there are no further indicators around whether the current LIF commission caps will be recommended to remain at their current level
While any concern around client consent has seemingly been allayed for the time being, there are no further indicators around whether the current LIF commission caps will be recommended to remain at their current level – a level at which many advice practices have indicated is just too low to allow them to maintain a viable commercial business proposition.
There are other factors impacting the outlook for the risk advice sector, not least of which remain minimum education standards and the cost of delivering advice, both of which – together with capped remuneration in an otherwise free market economy – continue to weigh heavily on many who remain in this area of the advice spectrum.
Our poll remains open for another week and we welcome your thoughts…
