Applying RDR to protection 

With the prospect of RDR being applied to protection products, greater understanding was needed of consumer perceptions of the ‘real’ cost and value of protection advice and the level and method of remuneration to advisers, as well as responses to a range of payment and remuneration methods.

We conducted group discussions and online quantitative research with consumers covering their experiences, assumptions and expectations, as well as what value they placed on protection advice and why. We also asked them to consider the advantages and disadvantages from their own point of view of different customer payment and adviser remuneration scenarios.

The output was used to develop alternative proposals to the proposed application of the RDR to the sale of pure protection products.