L&G has been forced to hike redemption charges on its Portfolio Bond after an IFA exploited a loophole allowing him to invest and then immediately withdraw £7m at a huge profit.
The adviser plundered more than £200,000 of L&G funds by arbitraging a gap between low withdrawal charges on the bond and the levels of commission and extra allocation available in a special offer through...
Spent 56 years at Schroders
Warns on profits
Hargreave Hale seeking legal advice