FSA needs to be more specific in its guidance to IFAs on with-profits

The FSA's latest attempt to shed light on with-profits has done little to dispel the murkiness and g...

The FSA's latest attempt to shed light on with-profits has done little to dispel the murkiness and gloom surrounding the sector. Last week, the regulator produced a document that was a cross between an FPC-style key points on with-profits and a shot across the bows at anyone who might think of breaking the rules. The central point of the document seemed to be that with-profits is quite complicated and closed funds are not an automatic sell. This is fair enough as far as it goes but it is hardly rocket science. Nor does it provide much in the way of practical does and dont's that will allo...