Skandia has launched a with-profits bond analysis tool to help advisers assess if the products are still suitable for clients.
The online tool, which uses independent data on with-profits funds, allows advisers to compare the bonds with other investments as well as identify possible exit opportunities.
Skandia says the opportunity to review with-profits investments provides advisers with opportunities to talk to clients about their investment portfolio, as well as helping meet regulatory requirements.
The With Profits Analyser contains details of the asset allocation of all open and closed with-profit bond funds in the market, as well as historical asset allocation details.
Advisers can then compare this with their clients' risk profiles to assess whether the product is still suitable.
IFAs can then compare the bond to a number of other investment types, taking into account any tax implications. The tool uses stochastic calculations to project the likely future performance on the underlying assets, and compares this with other investments.
In addition, the tool will flag up any penalty-free exit points for clients, helping them to understand the value of their no-MVR guarantee.
The tool has been developed in conjunction with Towers Perrin and contains data from Cazalet Consulting on all open and closed with-profits bond funds in the market.
It gives advisers quick and easy access to a full product overview for each with-profit bond fund which shows the current asset allocation of the fund, how it has changed over time and the annual gross returns of underlying assets.
"The one-size-fits-all nature of with-profits policies means they simply cannot be the right fit for every investor," says Skandia head of proposition marketing Peter Jordan.
"Whilst with-profits funds might have been the most appropriate investment ten or twenty years ago the market has moved on considerably and there are now many more alternatives which may be more appropriate.
"Within that context, and given the regulatory overlay, carrying out reviews of existing with-profits policies will be high on the agenda of many advisers."
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till