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Campaign gathering support from all sides

Money Marketing’s No Advice, No Protection campaign has now been running for over a year and has received widespread support from across the political spectrum.

The campaign aims to raise awareness of the consumer detriment resulting from non-advised protection sales and educate consumers about the fact that if they buy protection without advice, they cannot seek redress from the Financial Ombudsman Service regarding any complaints on suitability grounds.

An early day motion calling for more rigorous controls on the marketing of protection product sales was tabled in March and signed by 57 MPs.

High-profile MPs, including Ed Balls, Lorely Burt, Susan Kramer, Vince Cable and Andy Love, have all lent their backing to the campaign.

The FSA also appears to be taking note now. The regulator’s review of Icob is specifically focusing on the area of non-advice.

Protection broker Lifesearch has submitted a paper to the FSA on this issue and is awaiting the regulator’s consultation in 2007.

Money Marketing is calling for the FSA to reform the regulation of non-advised sales so consumers are better informed.

We believe this would be best achieved through asking a number of questions at the end of each application form to check that the consumer has understood what they have bought and the potential consequences of not taking advice.


  • to promote consumer understanding of the difference between advised and non-advised protection sales

  • to highlight to consumers that they have no redress to the FOS over any later complaints about the suitability of the product if it was a non-advised sale

  • for the FSA to enforce a pre-sales procedure, whether it is a tickbox or a signed form, to make sure consumers understand the limitations of accessing protection products direct sales

  • Money Marketing does not oppose the direct sale of protection. With an ever-widening protection gap, the need to offer protection in whatever form cannot be undermined.


    • to demonstrate that consumer detriment is being caused by non-advised sales

    • to show how, where and why detriment exists

    • to encourage the FS to reform regulation of non-advised sales so consumers are better informed to end detriment

    The campaign has received widespread support from the financial services firm with leading figures pledging their support.

    There is still a long way to go. If you would like to offer your support for the No Advice, No Protection campaign then please send us your comments.


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