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AA promises after-sales servicing to customers

AA Financial Services claims its new telephone-based IFA service will tackle the poor levels of customer service it says are inherent in the industry.

The AA says its research shows many financial services customers are dissatisfied with the “very poor” post-sale experience they have received from IFAs and direct-sales teams.

It claims its IFA service, which was revealed exclusively by Money Marketing in January, is unique in offering a post-sale product review service which recommends to clients when they should switch providers to get a better deal.

Mortgages will be reviewed on average every five years, when borrowers will receive advice on whether they should remortgage or stick with their existing loan.

The AA is teaming up with a range of providers to offer “best of breed” products, including annuities, term insurance, mortgages, savings and investment bonds. The main thrust of the service will be execution-only but independent advice will be given on request. The AA aims to move into online financial planning next year.

IFA managing director Mark Taylor says: “The AA brand is well positioned to offer a range of personal finance advice that consumers can trust. Our aim is to cut through consumer confusion with straightforward explanations and clear information to help them make informed decisions.”


Liverpool Victoria announces with-profits bonus

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Exeter marks the spot

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Northern Rock fixes seven year flexi

Northern Rock has introduced a flexible mortgage that has a fixed rate for seven years.The seven year flexi fixed mortgage is available for loans of up to 95 per cent of valuation and has a fixed rate of 5.99 per cent until July 1, 2008.It is fully flexible as overpayments, underpayments, payment holidays and lump […]

Imro reprimands specialist fund manager

IMRO has reprimanded defunct fund manager Trafalgar Asset Management for issuing a misleading brochure when it was still in existence. The specialist fund manager, which went into liquidation in October 2000, was guilty of claiming Hobbs Melville Asset Management, which it was formerly called, was part of the Hobbs Melville Group, an unregulated firm it […]

Sticking to valuation discipline when investing in China

Journalist Alexis Xydias discusses the opportunities – and potential pitfalls – of investing in China with Artemis fund manager Peter Saacke. With Peter holding significant positions in China in the Artemis funds he manages, journalist Alexis Xydias quizzes Peter on the risks of investing in Chinese stocks – including over-valuations, margin trading and financial reporting issues. Click here for video


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