Adviser warns of annuity misselling scandal

Bob Bullivant, chief executive of Annuities Direct, says he is becoming increasingly concerned about the launch of ‘open market option services’ which are not offering a full whole of market broking service. Bullivant says careful analysis of the existing arrangements needs to be considered and products other than annuities need to be included in the whole of market service. Pointing to a trend in the market, where providers and some advisers restrict the number of product providers they use and pass this off as a broking service, the company says this service will typically offer jus...