Advisers need to act on S32's says Ritchie

On the back of recent adviser roadshow research, Scottish Equitable finds given a choice between using S32 and relying on a block transfer to protect tax free cash, only 6% of advisers would use the latter. Scottish Equitable says many advisers believe a block transfer, to be too risky as it relies on a transfer ‘buddy’ who may later retract on the deal, leaving the other individual standing. Scottish Equitable says there are many individuals, with tax-free cash entitlements greater than 25% of the fund, who could take advantage of a transfer to a S32 policy, including those in poor...