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Adviser’s cash-in clash with Aviva

An adviser has slammed Aviva for sending his client a cash-in value for their property investment without informing them of the deferment period.

Jordan Financial Planning managing director Mike Jordan says Aviva sent his client a statement in February that gave them the cash-in value of their investment, which they decided to take.

Jordan says the client was then told by Aviva that they could not have the money as there was up to a six-month deferment on the property fund.

He says: “This was in force before they sent the letter in February. The correspondence was totally misleading and they should not state cash-in value when it is not accessible.

“To make matters worse, Aviva have then written a letter back in which they only half-heartedly attempt to answer the client’s letter but then go on to blame the adviser, saying that the adviser should have warned them about the deferment when they took out the investment.

“Why do Aviva think it necessary to deal with the comp- laint by trying to sow the seed in the client’s head that they should be complaining about their adviser?”

A spokesman for Aviva says the company has done all it can to make people aware of the deferment.

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