The tool, which launched earlier this year is designed to help advisers make informed product selection decisions based on their client’s individual needs. The protection module covers life, critical illness and income protection, and the main benefits include:
• Building a robust research proposition to support the advice process
• Selecting the most appropriate contract based on individual client needs
• Strengthening the compliance processes
• Aiding client expectation management
• Access real time up to date product analysis
The in-depth data comparison service includes product information for Life, Critical Illness, Income Protection, and Mortgage Protection including product features such as policy conditions, added benefits, exclusions, claims, underwriting and more.
The Paradigm Group, which represents more than 2,500 advisers across 750 firms launched its Paradigm Protect protection arm earlier this year.
Mike Allison, head of protection at Paradigm Group, said: “It is becoming increasingly important to consider a range of both product and operational features when considering which protection products best meet our client's needs.
“Tools such as Quality Analyser from F&TRC help us benchmark hundreds of different factors within a matter of seconds to help our advisers make the best recommendations, which is why we now provide the tool to all directly authorised Paradigm Protect firms. The additional CPD support is excellent and in the future these systems could also influence panel selection."
Ian McKenna, managing director of F&TRC, added: “We are delighted Paradigm Protect advisers will be using our Quality Analyser service. The tool provides adviser firms with easy access a vast amount of protection data enabling them to easily see what providers do and do not offer within their propositions.”
