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Urgent call to lower MVAs

With the resurgence of the markets, it would be reasonable to expect MVAs levied on with-profit bonds to be shrinking rapidly.

Alas, this does not seem to be the case and I have seen some MVAs increase this year.

Add to this calls from the press for a with-profits bond sales review and encouraging readers to lodge missale complaints, you would have thought that heading off this potential banana skin would be more of a priority.

Does this lack of urgency by providers to reduce their MVAs and avert complaints have anything to do with the lack of liability on their part for redress? I would have expected the bulk of this class of business to have been introduced as opposed to being directly sold by a tied salesforce.

Alan ParkinsonCPD Independent Financial Advisers, Liverpool

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