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Steady 6% beats a negative 10%

I refer to Peter Hargreaves’ recent holier than thou rant on with-profits bond sales.

Peter’s company has made millions operating mainly as a execution-only discount broker, with a financial adviser arm tagged on for those fortunate to have more than £100,000 to invest, so he has a vested interest in scaremongering over with-profits bond sales.

He claims that IFAs are shovelling in with-profits bond sales while his unit trusts crash and burn on the stockmarkets, so be it.

Surely, some clients right now with or without £100,000 to invest would like a nice steady 6 per cent return rather than a negative 10 per cent on your average unit trust.

As an IFA, I have never sold a with-profits bond and probably never will but I would like my clients to have the choice .

John Miller

Bates Edinburgh

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