Partner With Us | Haven Financial Solutions

As a heavily regulated area of advice, we understand from advisors that we work with that when you specialise in an alternative area of financial advice, the ever-changing FCA requirements for protection can be daunting, and time consuming to stay on top of.

By working with a specialist who are focused solely on protection, this headache is removed.

One of the most common frustrations we hear from advisors considering outsourcing their protection is the time lost in researching the most tolerant insurer for a clients’ medical or lifestyle disclosures. Or chasing medical evidence / consent forms etc.

This can often lead to clients not completing the process to put cover in place, paying a rated premium when an alternative insurer would offer standard rates, or having a policy exclusion when an alternative insurer would not exclude.

Based on feedback we have received from clients after working with a specialist they have said that where the protection proposition is the  forefront of the conversation, all the available products and solutions for the client are discussed and the underwriting process is seamless the revenue from each client is increased.

For those advisors who complete little or no protection for their clients, they are at a much greater risk of losing that client for their primary service, to the advisor who completes the protection that they did not put in place for their client.

“Do what you do best and outsource the rest” is the famous quote by business expert Peter Drucker. Peter believed that by focusing on your area of expertise and out-sourcing or partnering with a specialist for your clients’ additional needs gave a stronger proposition and a better client experience.

By partnering with a competent specialist your clients will receive best advice for their circumstances and ultimately feel more satisfied.

The advisors at Haven Life Insurance Specialists solely provide advice on life & health insurance. Meaning we are best placed to stay current on both industry best practice, and products / providers.

We are experienced in providing out sourced protection advice for clients and have an efficient, proven and compliant model.

Haven are authorised and regulated by the FCA via our network PRIMIS. PRIMIS are arguably the largest financial network in the UK and winners of the “Best Network 2019” financial report award. Through PRIMIS in 2018, over 77,000 protection clients were placed into the market, with in excess of £20bn of protection.

We have worked closely with the compliance department of PRIMIS to build our team of specialists and administrators, achieving consistent compliant feedback and case “passes”.

We use independently verified market feedback providers to gather feedback from our clients on key aspects of our advice process. We consistently achieve top scores in these areas. An example of this from our independent firm (Maze) is:

As all advisors in the industry will know, one of the main challenges to protection sales is managing the claw-back risk once cover is put in place. Feedback we have received from some advisors is that they shy away from selling protection for fear of an unexpected commission claw-back in the future.

We offer two models to our clients, a standard commission share whereby Haven will assume all claw back liability for the policies we write (with the exception of any policies re- written by the introducer). Or an enhanced commission share where both Haven and the introducer share the claw back liability on a pro-rata basis.

As a firm, we protect our claw-back rate by taking time with clients to ensure they have the most suitable product for their needs, understand exactly what they have in place and give them time to ensure the decision they are making is the right one.

We also hold regular reviews with our clients to ensure their protection package continues to suit their circumstances and budget.

We understand that one of the main concerns for clients looking to out source their protection is the concern that those clients will then be targeted or poached for other products, especially those which you as an introducer have provided the client.

To ensure complete transparency and peace of mind in this, our introducers agreements include express terms against such activity and are backed with an indemnity against any income generated from doing so. We believe this is important as it gives you the confidence to introduce your clients without the risk of losing current or  future income.