Policyholders failed by advisers - FSA

Advisers are failing to provide sufficient ongoing advice to clients holding with-profits policies, the Financial Services Authority (FSA) has found. In a briefing, the FSA sent a warning to both insurers and advisory firms that it would take action where it finds customers are not being treated fairly. The regulator found that although there are 32 million with-profits policies in force, many policyholders no longer have access to the adviser who sold the policy. For those policyholders that do have an adviser, many are reluctant to advise on existing with-profits policies. In addition...