I am glad to be part of Matthew Vincent's comment piece "When Cash Beats a Portfolio" in Saturdays FT on 24 September 2011.....Is there any financial advisor out there that would pay over 2% per annum for a well diversified risk benchmarked portfolio never mind one that has a less than 50% chance of beating cash over the longer term? If the answer is no then I don't see why clients should be "advised" (read "sold") into such portfolios.