Prudential and LV= have become the latest providers to stop their free transfer value analysis (TVAS) report service for advisers in the wake of regulatory concerns these could constitute an inducement.
The two providers have joined Standard Life and Old Mutual Wealth, which said it was "pausing" its service while it looked for a paid alternative, in stopping providing the reports. A spokesperson from Prudential said: "With effect from Thursday 29 March Prudential is withdrawing the TVAS service to intermediated advisers. "This follows the publication of the FCA policy statement 18/6 where it has made it clear that is neither acceptable for a provider to offer this service without charge or for an intermediated adviser to accept such a service." A spokersperson from LV= said: "Fo...
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