Insurers blamed as IFA 'stock-picking' continues

Justin Urquhart Stewart, director and co-founder of Seven Investment Management (7IM), says insurers "offering 500 funds plus a modeling tool" have given a number of advisers misplaced confidence. He says while some advisers are "very talented" at stock picking, most should stick to strong financial planning and avoid making "impossible promises" by playing the stock market. "Insurance companies were offering 500 funds plus a modeling tool and it just isn't enough," he says. "A lot of advisers are now looking at the planning process as a whole, rather than just looking to advise an...