The head of account development for PruProtect said it was committed to the IFA market and, with various regulations such as the retail distribution review and the forthcoming EU gender directive on this horizon, it was important to forge better links with advisers.
He said: “PruProtect is committed to helping advisers add value for their clients. We are focused on helping advisers transition through the testing times ahead and recognise that a great many brokers will be looking for support and assistance.”
In an environment where protection remains undersold and the ‘protection gap’ is estimated to be about £2.4 trillion, according to Swiss Re, the partnership will provide the IFA community with increased access to the latest tools, research, and educational support around protection.
A statement from PanaceaIFA said: “Protection has long been the neglected area of financial advice and, as the industry moves ever closer to RDR deadline, both PanaceaIFA and PruProtect aim to build an offering of resources and support to help the IFA community through this time of transition.”
With more IFAs showing interest over the past few months in the protection market, PanaceaIFA expects the trend to continue in the run-up to RDR.
This latest partnership follows PanaceaIFA’s link-up with Neptune Investment Management in May, which now provides updates and commentary for advisers using the PanaceaIFA portal, and a similar link up with Standard Life Investments in April.