With-profits investors may now have to consider whether they are better off getting out while they can and moving their investments elsewhere, suggests Chartwell, following bonus announcements today from Abbey, Axa and Royal London.
Ben Willis, business development manager at Chartwell Investment Management suggest financial intermediaries are now at a crossroads concerning certain with-profits investments, as few IFAs at the firm can now see the likes of Abbey’s closed with-profits funds from falling any further in value. Abbey started the 'with-profits' ball rolling this morning by revealing it would not be offering any annual bonuses this year to Abbey National Life, Scottish Mutual and Scottish Provident policyholders of with-profits investments, except where guarantees are held. This is the second year in a...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes