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RDR Interim Report: Protection may fall in sales category

The FSA has floated the idea of extending the RDR to protection, although suggests it should fit in the sales category rather than the advice section.

The Interim Report, released today, has proposed separating advice and sales. The paper suggests protection could be included in the sales category, which will be split into execution-only and guided sales.

It states: “We are interested in how sales services might extend beyond savings and investment products to include delivery of certain kinds of protection products (for instance term assurance) and, in particular, more pro-actively tackle the protection needs of those with debt.”

“Some firms have already developed services that encourage customers to go through an automated process that then prompts them to decide what they want and helps them to buy a product. It may be that, particularly if we provide further guidance on what can be done under current regulations, more firms could work within those regulations to provide similar services where there is commercial demand.”

But the FSA recognises that this ‘pure’ form of sales may not go far enough to meet consumer needs.


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A quarter (23 per cent)* of the UK’s small to medium-sized enterprises (SMEs) do not have an absence management system in place, according to new research from Jelf Employee Benefits. Despite 69 per cent* of organisations having a system in place, three-quarters (75 per cent) report that it is not providing them with sufficiently empowering absence or health data to inform an effective wellbeing programme.


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