If your financial adviser worked on a transparent up-front fee only basis, taking no commission from their recommendations, then the FPI Zenith Bond could be worth keeping.
However, because it only allows you to invest in over-priced mirror funds, restricts how much you can withdraw, potentially penalises you for withdrawals and levies hefty charges, it’s fair to say, in the majority of cases, the FPI Zenith ends up being an expensive option.
Furthermore, the potential tax benefits are often not only outweighed by charges, but not even applicable in many cases.
If you have a Zenith, make sure you understand your personal tax position today and what it could be in the future, and weigh up any benefits you believe you’re getting against its high charges - which all too often are not explained fully.
The FPI Zenith doesn’t offer you access to anything but expensive mirror funds, and for this reason alone we don’t like it. But, if you want to know more, discuss your options, position or portfolio, contact us for a no obligation consultation with a chartered financial planner, or request your free X-Ray Review™ today, and we’ll do everything we can to help you.