Schroders Personal Wealth (SPW) has announced it will remove commission on any protection advice when discussing wider financial planning with clients.

It says the new proposition will help “tackle the £2.4 trillion protection gap in the UK”.

The new proposition is based on SPW’s established existing relationships with Scottish Widows and Legal & General, providing life insurance, critical illness, income protection and whole of life cover.

Recent research from SPW shows that while only 28 percent of UK adults currently have some form of personal protection insurance, Covid-19 has changed people’s...