Advisers to lose out to banks on with-profits

The insurer, which is one of the largest with-profits providers in the UK, believes the RDR will reduce the role of advisers in the with-profits market. However, concerns have been raised over the risks of selling the policies on an unadvised basis, especially as investors will miss regular product reviews. Aviva's head of investment marketing, Richard Kelsall, says he expects with-profits policies will increasingly be sold through so-called ‘affinity partners' including banks, building societies and tied agents, rather than IFAs. "With-profits is largely designed for people in the...