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Taskforce slams ABI for not raising protection profile

Members of the Income Protection Task Force have hit out at the ABI for failing to help the industry raise the profile of income protection.

Speaking at the launch of the IPTF’s second white paper in London this week, which looks at the issues that the industry is or should be addressing on income protection, IPTF member Master Adviser IFA Roy McLoughlin said the ABI’s failure to make an appearance at the launch was “embarrassing”.

He said: “Income protection should be instrumental to any adviser and arguably it is part of our business that is going to increase above all else this year. The fact that the ABI is not here is embarrassing for them. It is supposed to be representing the industry and the so-called trade body is not here.”

The ABI was invited but declined because it had its own meeting which coincided with the launch.

IPTF co-chairman Peter Le Beau said: “We very much want to work with the ABI. We cannot move this market forward without ABI interest.”


Tax-free transfers

Pension transfers have been very much in the news recently with the FSA releasing its report on the quality of advice on pension switching and the impact of market volatility on fund values.

£7.6M write-off for Lighthouse Group

Lighthouse Group has had to write down £7.6m, with £5.6m directly related to its £12.6m merger with Sumus in May last year.

High Fidelity in the groove

Fidelity International UK retail managing director Gary Shaughnessy is upbeat about the opportunities in the market at the moment.


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