Legal & General has been chosen as Asset TV’s first protection training partner as the digital media company looks to expand its adviser training into protection.
Legal & General’s Specialist Protection Team, who already have an excellent reputation in offering CII accredited training to advisers in this exciting and largely under developed market, will record three videos on the importance of having business protection and how advisers can get into this market. The first video, hosted by Marcus Primhak (Market Development Manager) focuses on Share Protection which, according to Legal & General’s research has a potential protection gap of £683 billion pounds and makes up the biggest part of the total estimated business protection gap of £1.35trillion. This video will be hosted on Asset TV’s Akademia portal from 3rd September and will be followed up by videos on Key Person Protection and Legal & General’s new research findings.
All three videos will focus on the need and technicalities of business protection, particularly for small and medium size enterprises who are often at the highest risk when a key person or business owner dies. The UK has millions of small businesses who need reliable information about what protection is relevant for them and addressing this is a focus for both Legal & General and Asset TV through helping advisers talk to their business clients.
Richard Kateley, Head of Specialist Protection at Legal & General says:
“We are very pleased to be working with Asset TV and their Akademia training portal as they develop their offering for the protection market. The company has a reputation for providing high quality investment information and it is great to see them looking to branch out into protection. Business protection seems the best product area to start with due to the huge opportunities that this market offers. There are circa 4.9 million private sector business in the UK and 98% of these are SMEs with less than 50 employees. These are the very companies whose future would be most affected by the loss of a key person or business owner and benefit most from advice on business protection.
“With Auto Enrolment in the headlines currently and the economic recovery taking hold, more and more SMEs are looking to their financial advisers for advice and this is a great time to introduce them to other aspects of business financial planning. “
"I believe that it falls to the protection industry to raise the awareness of the risks SMEs in the UK could face if they lost a key person or business owner and to make sure that their protection needs are recognised, explained and fully met. I hope that the work we do with advisers both directly and with Asset TV helps to drive this forward and together we can develop our own knowledge and that of company owners across the UK.”
Martyn Pask, Consultant at Asset TV says:
“We have chosen Legal & General to partner with because of their market leading research and market position. The protection market and the business protection market in particular, is a key area of expansion for us as there are many businesses who would be extremely vulnerable if something happened to one of their key members of staff. Legal & General’s experience in providing this kind of cover made them an obvious choice of partner.”
