View more on these topics

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%

Recommended

Committee could be scrapped

The controversial regulatory decisions committee of the FSA could be swept away as the regulator makes changes to its enforcement process.

The FSA has outlined an investigation into its procedures and is thought to be considering sweeping changes to the RDC.

Independent view

Any financial adviser worth his salt will always start any financial planning exercise with a detailed budget so that the client’s overall objectives can be set. This then forms the framework for the financial planning exercise.

Portman Building Society announces 2004 results

Portman Building Society announces its 2004 annual results today, showing an overall improvement on 2003.Portmans key achievements include growth in total assets up 10 per cent to 15.5bn, increase in pre-tax profit by16 per cent to 78.1m and record new mortgage lending up 24 per cent up on 2003 to 3.6 bn. The society has […]

Brexit Commentary from Natixis Global Asset Management

By David F Lafferty, CFA, SVP – Chief Market Strategist Thursday’s historic Leave vote in the UK will have both immediate and long-term consequences for the global economy and financial markets. The initial flight-to-quality reaction across asset classes has been exacerbated by the market’s misplaced confidence in a Remain victory leading up to the vote. Stock markets […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment