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Broker talkback

Do life offices have a duty to inform policyholders of MVR-free windows in with-profits policies?

“Yes. Information from life companies can sometimes be confusing. They definitely need to be clearer about MVRs.”
Tony Pate, APC Financial

“Yes. All life offices should be open and totally honest. They certainly should be informing them.”
Brian Whitton, Whitton Asset Management

“No, I think it is irrelevant. Although I will certainly inform clients of these MVR-free windows, I will not be encouraging anyone to take them up.”
Geoff Coker, Thain Wildbur

“It is a contractual event, so I would say yes, but it could be an administrative nightmare for life offices and the information has been stated on the original paperwork.”
Glyn Bacon, Chambers Financial Management

“Yes, I suppose they should. It is unfair not to tell people if they can get access to their money.”
Caroline Brearley,GM Towns and Partners

“Yes. I think lots of clients, particularly the elderly who have needed the money, have felt trapped in their with-profits funds.”
Ian Vincent,Valiant Financial Consultants

“Clients should be made aware of any opportunities coming their way, especially in the spirit of fairness to the customer which the FSA is trying to promote.”
Alan Coombs, Financial Planning Wales

“Yes, they have a duty although you sometimes would not know it. They should be up-front with the investor, giving them the chance to extract their funds if the chance arises.”
Nick Wheeler, Genesis Financial Management

No 12%
Yes 88%


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