View more on these topics

Admin services at an all-time low

Like most advisers, I am appalled at the rapidly diminishing service levels both at mortgage lenders and life offices.

Just this week, I read about the recent improvements made at Scottish Equitable, whereby additional underwriters, new business processing staff, etc, have supposedly been drafted in to shore up the service to introducers.

In reality, the standards have plummeted to an all-time low. Twenty minutes waiting to speak to a customer services assistant about the failure to issue policy documents. Ten minutes arguing over why I should have to take further time out of my day to write or fax them the very information I have just delivered verbally.

When I asked to speak to a supervisor, I was told I would be called back quickly. As I write, I am still waiting for the call.

When I write articles and speak to the financial press about protection issues, I do and will continue to hammer home the point that a good product but a useless admin system does not make the adviser or the client happy. As with any flawed service, I will be voting with my feet.

Alan Lakey

Partner

Highclere Financial Services,

Hemel Hempstead,Hertfordshire

Recommended

Does the FSA believe that software-driven advice is perfect?

The FSA is suggesting that perfect advice is software-driven rather than faceto face through an IFA. Buried in the back of a companion document to the stakeholder sales process consultation paper CP04/11, the FSA says it has identified the benchmark for perfect advice by configuring a web-based financial planning tool. IFAs are in uproar at […]

George dismisses fears of house price crash

Former governor of the Bank of England Lord George of St Tudy dismissed speculation of a housing market crash yesterday. Speaking to BBC Radio 4&#39s Today Programme he said that interest rates will continue rising but not drastically and that rising interest rates are a sign of a strengthening economy. Lord George said the UK […]

Many IFAs may be in breach of rules on performance data use

IFAs are breaching rules on performance data despite new FSA rules coming into force this month, according to O&M Systems. O&M, the financial services systems provider says the majority of IFAs quoting performance data to their clients are likely to be in breach of FSA rules due to ignorance to the changes in force. The […]

ABI looking at food sector for labelling hints

The ABI is looking at developing the idea of traffic-light labelling on products to help consumers understand financial risks and is in talks with other sectors about their approaches. Raising Standards director Martin Shaw is to meet with the Food Standards Agency to look at how it explains complex information to their customers. The food […]

The Rubik’s Cube: China’s policy trilemma

By Douglas Turnbull, Investment Director, Head of Chinese Equities China faces a ‘Rubik’s Cube’ policy trilemma, whereby it needs to sustain a minimum acceptable level of growth, deal with issues such as overcapacity and reform the financial system to make it a far more efficient allocator of capital. Given the contradictory nature of these objectives, […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com