The Intermediary – October 2025 - Flipbook - Page 72
"I'll tell you what I've told other lion tamers, you should really consider income protection"
people are more concerned about protecting
their income.”
Opportunity and responsibility
industry. Businesses and networks are
strengthening protection processes and advisers
Brokers and advisers are now on the frontline
are expected to either write protection business
of this new reality. The regulatory landscape
or refer it – but they must not ignore it.”
has shifted fundamentally, especially with
Vaughan notes that regulation has set a new
the introduction of the Financial Conduct
standard. He explains: “Consumer Duty has been
Authority’s (FCA’s) Consumer Duty.
a catalyst for positive change.
Emma Vaughan, managing director of Omni
“We’ve enhanced our broker support by
Protect, says: “Protection should be introduced
introducing structured advice templates,
right at the start of the mortgage journey –
suitability checklists, and file review protocols
ideally during the initial fact-find.
that help evidence fair value and client
“This ensures it’s positioned as a core part of
the financial planning process rather than an
optional add-on.
“For specialist clients, who often face greater
financial vulnerability, early conversations allow
understanding.
“For specialist borrowers, this means protection
conversations are more transparent, better
documented, and tailored to individual needs.
It’s no longer enough to offer a product – brokers
brokers to tailor solutions that reflect the client’s
must show why it’s right for the client, and we’re
full circumstances.
equipping them to do just that.”
“It also helps meet Consumer Duty expectations
Harper agrees that the demands on
by embedding suitability and fair value from
advisers have grown, adding: “The demands
the outset.”
of Consumer Duty will no doubt command
Farrell agrees: "Successful advisers introduce
protection early in the mortgage journey, setting
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“Recent developments, including Consumer
Duty, are driving change in the protection
distributors to be more specialist, and we are
seeing more mortgage and wealth management
expectations from day one and avoiding it
firms approach LifeSearch to help meet their
becoming an afterthought.
protection responsibilities.”
The Intermediary | October 2025
