The long-established mainstay of the life industry is out of date and those advisers who continue to recommend the with-profits option should question their motives as it is unlikely to meet client requirements, says David Ferguson
In a sector in which scandal and mis-selling are never far away could it be that the next port of call for the legal eagles will be offshore with-profits bonds? I really cannot fathom why providers persist with this outdated, paternalistic and simply archaic proposition in 2005. Whatever the supposed merits of the asset class they simply do not support the principles of openness and transparency that are demanded by consumers in these post- various scandal times. Have all the efforts to educate on themes such as financial planning and asset allocation really fallen on such deaf ears that ...
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