David Abbis, one of the authors of the guide and Defaqto's Insight Analyst for Wealth Management, said:
"Third way products have been in the UK for a few years now but they are still difficult to understand. One particular problem is that the products with guarantees are not all the same product type.
"We have, typically, onshore bonds, offshore bonds, annuities, unsecured pensions and trustee investment plans, and some guarantees can attach to personal pensions. The guarantees from each provider tend to be similar but each provider offers something a little different.
"In the third Defaqto Third Way guide we have detailed the different products available and give practical help as to how to use them when creating a financial plan for a client. By downloading the guide, advisers will be able to see which products are available and descriptions of the various guarantees."
The guide covers all aspects of third way products, including:
- An overview of third way products and their appeal
- How they can be used in financial planning
- Product guarantees and investment options
- The industry landscape and the effects of the economy and recent legislation
- New product information and how to select the right product for a client
