When PEPs were first introduced in the late 1980s most advisers grasped the concept, but consumers certainly did not.
This was a very different time, when the concept of Unit Linked Investment was only just beginning to take off, post privatisation issues. I distinctly remember that clients were very reluctant to invest until the point that you explained to them that they could only have one PEP per year, at which point they couldn’t invest quick enough! The limitation of supply is a very powerful sales tool, it has worked for years with Friendly Society Savings Plans (mostly very poor performing products) and latterly it has worked well with ISAs. So, it is not surprising that the sales of ISAs have...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
