Adviser warning over poor with-profits funds outlook

The firm, which runs a web-based with-profits service for policyholders (www.withprofitshealthcheck.com), says it is vital advisers know when policies should be surrendered and how the various guarantees work. Its with-profits specialist, Miles Hendy, says in recent years the effects of the credit crunch and the recession resulted in cuts to with-profits bonuses, and the use of market value reductions (MVR) by providers. However, while the stock market rapidly improved through the summer of 2009, Hendy believes with-profits funds will fail to live up the expectations of many policyhol...