This week, John Kerr provided commentary to FT Adviser regarding the risks some advisers face for not amending the cessation age to '65 or state pension age' on group risk products since the exemption in 2011.
“Unless advisers actively review the group risk arrangements regularly with their clients, mindful of recent legislation and so on, they are inevitably going to expose themselves to professional indemnity claims should some relevant issues not be discussed with their clients.
“Needless to say, these discussions should be documented in writing with the client especially should the client choose to ignore their advice
“I think a lot of people out there are being looked after by advisers who do it as a sideline rather than a specialist. They are possibly leaving themselves exposed by not being specialist.”
Read the full article here: https://www.ftadviser.com/protection/2017/11/17/advisers-face-legal-threat-from-group-risk-timebomb