What does this mean for you?
The Code affects all business Advisers introduce to product providers based on the Isle of Man (with some exemptions for certain jurisdictions with similar requirements already in place). But, don’t worry, at RL360 we are here to help you through this change.
A key change is the introduction of a personalised Key Information Document – or KID – that your clients will be required to sign as part of the application process. The KID contains the main features of the product as well as showing, in percentage terms, the fee you will receive for introducing the product.
To make things straightforward for you, the KID is generated as part of the illustration process.
RL360 is revising all of its products to make sure they are fully COB compliant for 1 July.
From 1 July 2019 our product line up will be:
- Regular premium product – Regular Savings Plan
- Single premium products – PIMS and Oracle
- Protection – LifePlan
We will be retiring our two current regular savings products, Quantum and Paragon, at the end of June.
Find out more about Conduct of Business at www.rl360adviser.com/change.