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Broker Talkback

Is the Association of British Insurers doing enough to tackle poor provider marketing material on the open market option for annuities?

Yes 25%
No 75%

No “This initiative is welcome but they could probably do more. I don’t know if advertising is something they could possibly look at to create awareness.”

Edward Wilson, Edward Wilson Financial Services

No “Too much can’t be said to encourage people to go into the market to seek a suitable provider.”

Tony Harvie, Professional Financial Advisers

No “This sounds like a good idea but they could probably do a bit more. People need to be fully aware of their options and what advice they need to seek.”

Eddie De Barr, IFA; Waterside IFA

No “I have got more faith in the brains of the British public than the ABI. Most people know they should shop around. The ABI is barking up the wrong tree, I think they should be looking at why a lot of people choose not to go to a financial adviser.”

Ruth Whitehead, Ruth Whitehead & Associates

Yes “It is all down to economics. If providers have to produce more marketing material for Omo, the cost will be borne by the client. They should rely on IFAs to give them the information they need.”

Mike Morris, Mike Morris & Co

Yes “I think the ABI should be focusing on improving definitions in the critical-illness market to ensure consumers understand what they are covered for and there is consistency between providers rather than looking at annuities.”

Dinesh Limbani, BPL Financial Services principal

No “We live in a litigious society and with something as sensitive as this, everything needs to be clearly marked with appropriate concerns highlighted.”

Alok Dhanda, Dhanda Financial

No “You can always do more in areas like this to help people understand the risks involved.”

Steve Lunn, Home Counties Financial Services

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