Advisers less open to discussion with providers: Foresters

Advisers are now looking more towards protection products and are less open to discussion with providers, according to Foresters Friendly.

The firm’s marketing director, Neil Armitage, said the consequence of RDR has meant advisers now have a bigger appetite for a wider range of products.

“We have seen lower levels of sales and interactivity as advisers seem to be concentrating on the top-end high-net-worth clients or protection products. It has been a little boring as there are elements to the business that are not as well recognised,” he added.

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Mr Armitage said the firm has also seen slow-down in Isa and bond deposits post RDR. “Isa season this year has been less exciting compared to last year.”

Additionally, Mr Armitage said, in response to the post-RDR demands, the firm has started to undertake some revisions of products. The society is looking to relaunch its sickness product in October or November this year. The product was initially launched in June 2009 but later closed.