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Adviser slams PruProtect for contacting client with cover deal

PruProtect has apologised after it repeatedly contacted an IFA’s client directly to sell them whole of life cover.

Index Financial Services managing director Emmanuel Kontis says PruProtect contacted his client by phone and post offering him PruProtect whole of life cover as part of a special offer along with an application form for the policy.

Kontis says: “PruProtect does not know my clients or whether whole of life cover is suitable for them, so it should not get involved in trying to sell them products.”
PruProtect says it contacted the client by mistake after its records showed the client did not have an adviser.

Head of account development Phil Jeynes says the offer is part of a campaign aimed at clients without an adviser and insists this is an isolated incident. He says: “A data error has meant that we have mistakenly contacted a client who has a broker linked to them. We have contacted the adviser and explained the mistake and we are confident this is an isolated incident.”

In May, PruProtect came under fire from advisers after approaching IFAs’ clients directly to discuss linking their protection policies to inflation.

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. Adam Bellchambers 11th November 2011 at 8:56 am

    System error aside, surely if a Provider believes that a Client does not have an Adviser, they should be either offering to provide the Client with advice themselves – better still, offering to put them in contact with an Independent Adviser! – certainly NOT offering a Product that may, or may not, be suitable for the Client … or am I being naive?!!!!!!

  2. I recently got into a dispute with a client who had taken up a Whole of Life assurance with Pruprotect when they sent a letter to my firm via the network stating the client had asked them to cancel the plan at inception.

    It turns out that all that had occured was that the plan number had been changed so instead of citing that event, they sent a letter to me which contained a deliberately untruthful statement.

    I got into dispute with the client based on that letter and as in all things, once it was clear where the fault lay, Pruprotect sent an inadequate letter of apology to the client citing a system error.

    Needless to say, PruProtect are not my favoured provider for anything.

    Good job they are not actually part of Prudential.

  3. PruProtect ONLY deal with intermediaries, they don’t have a direct to consumer offering. This product offer is for brokers to use with their clients and it is only so called “orphaned” clients that are being approached directly. If only all providers were this keen to give us IFAs opportunities to discuss with our clients!!

  4. Protection is a tough sell. If someone is buying protection WITHOUT advice, I’d say it’s a reasonable bet that they’re a fairly sophisticated / educated investor. Without seeing the client details, it’s hard to say.

    Naive? If it had been a bond they were selling, no. In this instance – maybe.

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