STEPHEN CRANSTON: St James’s Place may be a safe haven but be cautious of poor performance
Multimanager charges a 5% upfront fee on its unit trusts and no less than 85% of its funds are below average
27 August 2020 - 14:43
The position of trusted adviser gives enormous power to financial intermediaries. Historically they have focused on an in-house product set. In the days before unit trusts dominated retail savings it was hard to get any kind of information about the returns or the underlying portfolios of life company endowment policies.
An enterprising intermediary, Richard Wharton-Hood, set up a survey in the 1990s of these products, but after a series of returns were unflattering to Liberty (run by his brother Dorian) they simply withdrew from the survey...
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