There was unusual consensus in Investment Brief (Money Marketing, October 14) among the experts.
Yvonne Goodwin, Ashley Clark and Mark Dampier all believe that regular contact from IFAs, with tailored advice, is more effective at meeting the needs of individual clients than “packages” such as the new risk-based managed funds from Scottish Life.
I couldn’t agree more.
However, as Michael Both rightly points out, there are many situations, notably in the workplace, where the IFA will not give individual, tailored advice on an ongoing basis.
Scottish Life’s Managed Strategies is designed specifically for such situations, giving IFAs and members of company-based pension arrangements, the reassurance that their investment will “do what it says on the tin”, matching appropriate risk levels and durations, within an appropriate governance framework This does not take control away from the IFA. In reality, it provides them with a carefully designed and practical solution to a long-standing problem – “What is the best way to provide an appropriate investment strategy for members of company pension arrangements?”
Group head of communications,
Scottish Life, Edinburgh