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LV= Guides Advisers Through With-Profits Review Process

Lack of information or lack of transparency can hamper best advice

LV= has launched a guide about its with-profits investments, which gives advisers essential information. The UK’s largest friendly society¹, which has enjoyed another strong year of with-profits performance, is aiming to assist and support advisers when reviewing clients’ investments by supplying them with transparent, clear and up to date information, all in one place.

Entitled ‘The Facts – Refreshingly Transparent’, the guide outlines core information about the Liverpool Victoria With Profits fund and addresses the key practical issues advisers will need to consider when reviewing their clients’ options. These include:

  • the current spread of assets held in the fund;
  • who manages the fund and how they operate;
  • a comparison of the Liverpool Victoria fund with other with-profits funds;
  • product performance compared to other investments;
  • how returns are paid to investors and how final values are calculated;
  • how strong returns from 2005 and 2006 will affect the returns investors receive over the next two years;
  • market value reductions.

The guide includes information which isn't always taken into account by tools such as some online with-profits analysers. This outlines the actual returns achieved by the fund and how these will be smoothed over the next two years. ‘The Facts’ details independent ratings given to the Society for its with-profits fund; these include an all-round 10/10 rating in the 2006 Cazalet Consulting Life Report² and a 5/5 rating for future fund performance from AKG³.

Stuart Tragheim, Director, Intermediary Business at LV= said: “We appreciate that with profits investments can be difficult for advisers to review, especially in light of FSA Treating Customers Fairly requirements. Advisers need the full facts to hand for them to help clients make the right choices for their future financial wellbeing. No two with-profits funds are the same, from asset mix and smoothing approach to fund performance. We are keen that advisers understand our approach and strong track record of meeting members’ investment objectives.”

The guide is accompanied by the ‘Investment Report 2006 and Outlook for 2007’ which will, together with ‘The Facts’, give advisers the full picture to support their client reviews.

For more information about LV= and the Liverpool Victoria With Profits fund visit

1 Association of Friendly Societies Year Book 2006-2007, Total Net Assets.
2 Overall rating Cazalet Consulting 2006 Life Report
3 AKG 2006 Financial Strength Rating

From Liverpool Victoria to LV=

In March 2007 Liverpool Victoria announced it was changing its trading name to LV=. There will be a period of transition during the course of 2007 as products and services are switched over to the new brand name and a fresh, modern look.


LV= is a trademark of Liverpool Victoria Friendly Society Limited (LVFS) and LV= is a trading style of the Liverpool Victoria group of companies. The new LV= brand identity was launched in March 2007.

LV= employs almost 1,800 people, serves more than 2.5 million customers and members, and manages more than £8 billion on their behalf. We are also the UK’s largest friendly society and a leading mutual financial services provider.

Liverpool Victoria Friendly Society Limited (LVFS) is authorised and regulated by the Financial Services Authority and entered on the Financial Services Authority Register, No. 110035. LVFS is a member of the ABI, AFS and ILAG.

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    Liverpool Victoria Financial Services Limited, registered in England with registration number 12383237. County Gates, Bournemouth, BH1 2NF, UK