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Hartford guide aims to help IFAs review WP with clients

US-owned life office The Hartford has put together a with-profits review guide for advisers with clients in the asset class.

The Hartford has consistently targeted with-profits money since launching into the UK last year.

Its latest with-profits review guide includes key questions and issues to consider, template letters for approaching clients and providers and a data-gathering form.

The Hartford is also offering an increased allocation rate of 102 per cent into its unit-linked bond, plus loyalty bonuses of 1.5 per cent and then 2 per cent of the bond’s value after seven and 10 years respectively.

Managing director of marketing John Enos says market value reductions remain a key driver behind adviser and client reticence to switch out of with-profits.

He says providers are increasingly dropping their MVRs as markets continue to rise. Scottish Widows and Norwich Union have both cut exit penalties recentlyEnos says: “We recognise that moving out of with-profits is a sensitive and complex process. Until now, it has been difficult to fully understand the underlying issues and recommend viable investment alternatives but we are urging IFAs to waste no time in reviewing their clients’ with-profits investments.”


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