Meet consumer needs with low-cost advice, says ABI
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A full advice service for a single product costs advisers £670 to deliver to clients, meaning it is not economically viable for most consumers, says the Association of British Insurers.
Speaking at the ABI’s retail distribution review conference on simplified advice this week, assistant director of consumers and distribution Peter Jolly said a simplified advice process must offer a low-cost automated service.
Money Marketing revealed details of the ABI’s proposals for a simplified advice service earlier this month.
Aviva director of distribution development Steve Gay says to meet consumer needs, a simplified advice process must be delivered for as little as £50.
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Readers' comments (1)
Julian Stevens | 20 May 2010 9:57 am
Decision trees! That'll sort it.
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