Nick Dewhirst wonders why tax shelters often make such poor investments
In a companion piece I described how the life assurance industry's success was built on marketing the most potent hot buttons in financial services - 'new', 'safe' and 'tax-free'. Now I shall apply this to other kinds of tax shelters to show how tax savings can be bad for one's financial health. My first encounter with tax shelters was when I was a rookie US registered representative in Dusseldorf pitching for retail business a quarter of a century ago. Frequently my bids for a small slice of the Geman savings market failed when faced with the superior attractions of 'Zahnartzschiffe'. ...
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