We have an emerging dilemma in terms of investment management and how an IFA can add value, or maybe more pertinently, justify their 0.5% trail commission.
Before the demise of with-profits, advisers were polarised into those that did, such as discretionary portfolios, broker managed funds, UTs and Oeics, share-dealing, and those that didn’t, in the murky world of with-profits, where advisers effectively outsourced their investment management and slept comfortably in the now flawed theory you couldn’t lose your shirt on it. Well, hindsight is a wonderful thing, but how wrong could they be! In both scenarios, everyone made money, from the manufacturers (investment house or insurance company) to the distributor (adviser) who were paid royally w...
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