Product Adviser  

The Exeter toolkit ‘valuable’ for advisers

The Exeter toolkit ‘valuable’ for advisers
 Photo by Kaboompics.com from Pexels

I am not normally a big fan of tools built by life companies or platforms for advisers, but occasionally something comes along which is a valid exception.

The two major parts of The Exeter toolkit are an income risk calculator and a ‘reasons why editor’. 

Advisers can quickly generate a six-page report with examples of both costs and benefits for two-year, five-year and to-retirement cover.

Many advisers have not recognised that the interaction of the Insurance Distribution Directive and Mifid II requires any adviser identifying a protection need to either address it themselves or signpost it to another organisation that can help. 

This tool can help address this, although life cover should also complement income protection where needed. 

I am not actually a huge fan of the reasons why editor. It is built around making a single provider recommendation. For example, The Exeter does not allow for situations where an adviser may compare policies before leading to a specific recommendation.

There are better tools to do this from independent software suppliers, but that does not mean this toolkit is not hugely valuable for advisers. 

Ian McKenna is founder of FTRC