Opportunities for adding value

Intermediaries can add significant value for their clients by advising them on which Tessa rollover product to invest in, says Antony Stack

It is estimated that there are billions of pounds maturing under Tessas in 2001. This is a huge market and yet many advisers are missing out on the opportunities to access it, partly because they may not be aware of which clients have Tessas and when they mature. My view is that this is because investors traditionally went directly to banks and building societies when making Tessa investments. Intermediaries were unable to add much value to the decision-making process and so were uninterested, except to ensure that their clients had made full use of all possible tax-exempt investments. ...