View more on these topics

Chadborn says persistency is guide to business quality

Advisers are calling on life offices to release protection persistency figures to help drive forward business based on quality rather than quantity.

CBK principal Peter Chadborn says all providers should publicise the level of business kept on their books as an indication of the quality of business.

He says: “If you want the industry to focus on quality, then companies need to be rewarded on persistency. They must acknowledge behaviour and start offering incentives.”

Chadborn warns that there are dangerous incentives to rechurn business. He says: “Once the adviser is out of the indemnity period, there is no financial incentive for them to keep the business on the books. So at a time when the policy has yet to make a profit for the life office, there is a potential incentive for the adviser to revisit the case and rebroke the business and get paid again for the new policy.”

Legal & General IFA sales director Martin Noone says: “If we can have some quality measures in place and an IFA’s business benefits from the improving quality, then I think that is good.”


HBOS sees net mortgage lending drop to 7%

HBOS has seen its net mortgage lending drop to 7 per cent in the first half of 2008 as it also reveals its profit after tax plummeted 56 per cent to £950m from £2,139m last year.

A guide to automatic re-enrolment

Since the introduction of auto-enrolment in 2012, it has been a popular topic in the press. Recent media focus has been geared towards small and micro employers; however attention is set to return to the UK’s largest businesses as they prepare for re-enrolment. Johnson Fleming has produced a useful guide that provides essential information to help you […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm