FSA calls for better advice on with-profits products

The FSA has outlined areas of with-profits products that need to be expressed more clearly to consumers. Its latest discussion paper, the third of four concerning with-profits schemes, states that consumers have only a rudimentary understanding of how the products work and providers should be careful not to overload customers with information. The regulator said research shows customers do not have adequate knowledge of how features such as smoothing, bonuses and guarantees work. They generally have little grasp of the benefits and risks of the products or how factors other than inves...