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Cross selling was and still is to some extent rife in banking, retail funds and financial services and the rest. There’s plenty of evidence that customers were pushed into let’s say bank products by bank staff and advisors and pushed into financial products that were less advantageous to competing products. The financial advice industry was complicit in these practices. But you never include these practices in your allegations of intra-fund advice.

I am against this practice whether it is in the for-profit or not-for-profit sectors. Ultimately clients should get the best advice and best opportunities to maximise their retirement nest egg. To some extent I am against the default ‘growth’, ‘balanced’, etc portfolio offerings as they disguise cross selling to clients.