View more on these topics

Anger as Widows mails IFA clients on Euro Isa

Outraged IFAs have slammed Scottish Widows for trying to sell direct to their clients after the life office included details of its European Isa product in its demutualisation literature.

Widows has been send-ing IFA clients details of its European Isa products and relevant investment limits for mini and maxi Isas in the windfall packs.

Advisers are calling for Widows to exclude their clients from the mailshot. They say their clients may have policies with Widows but the clients still belong to IFAs and should not be included in direct mailings.

Advisers are also concerned that the letters will confuse their clients.

They say Widows is sending out information on Isas when clients may already have the plans and could be confused as a result.

In a letter to an IFA, Widows says: “The complexity and scale of this mailing exercise is such that we cannot accommodate the exclusion of specific groups of clients.”

Harris Investment Management principal Alan Harris says: “As an IFA, I am entitled to decide what information a client receives.

“Scottish Widows has been going against my instructions and mailed clients directly. Neither Scottish Widows, nor any other company for that matter, has the authority to issue non-statutory documents, particularly mailshots to my clients, without my express written consent.

“I do not want Scottish Widows writing to my clients and sending out product inf-ormation which could con-fuse people.”


When the Sipp comes in

I am 52 and do not expect to want to take all the proceeds for at least another 10 years. How should I invest the fund of some £300,000 for best effect?If you wish to take any of the fund as tax-free cash, you will have to take it now. Once you have started to […]

Law firm calls for IPAs to allow dilution levy

City law firm Eversheds is calling on the Government to review the single-charging structure of its proposed Individual Pension Account.The firm believes that IPAs, which will invest in collective investments, including unit trusts and Oeics, should be allowed to charge a dilution levy to ensure fairness to unitholders.The levy is applied when investors cash in […]

Newton Fund Managers introduces European high yield bond fund

The fund is aimed at investors who need a high level of income and want to invest in Europe. It will invest in a portfolio of corporate bonds placed on the market by companies all over Europe, as well as a small number of UK companies.Although this fund promises a high yield of 9.46 per […]

Sun sets its eyes on flexible arena

Sun Bank is calling for the Council of Mortgage Lenders to establish an industry benchmark for flexible mortgages.The UK banking arm of Sun Life of Canada has approached the CML following the recent launch of its new flexible mortgage.Marketing manager Richard Farr says research carried out during the planning stage of the loan revealed customers […]

Neptune video: Indian valuations and Modi’s pro-investment agenda

Kunal Desai, Head of Indian Equities, discusses his expectations for the Indian market and highlights the key indicators that he is watching for 2015.

In the video, Kunal addresses:

• Indian equity valuations and the importance of stock selection in gaining exposure to the earnings upgrade cycle

• The BJP’s strengthening ambition in its pro-reform, pro-investment agenda


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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