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Battle fatigue

Do readers believe providers have any obligation to honour policy conditions, adhere to their published service standards or recognise IFA complaints?

Anyone who has worked in this industry will have experienced a fair percentage of providers failing on all counts. It has now got to the stage with Scottish Provident that I have an annual battle to renew a particular client’s whole of life policy that includes an automatic indexation option.

I feel over a barrel. From an insurance perspective, I cannot move cover, yet I feel under pressure to ensure that the client has the cover he is entitled to and has paid his premiums for. I have phoned, emailed, faxed, even written to the managing director. Do they bother to reply? What do you think? No.

This matter has been outstanding since November and I am yet to have any confirmation of cover. I have managed to speak to the odd administrator, who has promised to get back to me but I am still waiting.

I have not yet mentioned remuneration to them. Do they think the client will pay for my time? If I cannot get the powers that be at Scottish Provident to acknowledge my correspondence, what chance do I have in getting them to meet my time costs? It is about time that we IFAs sung with one voice to apply pressure to the providers who take us for granted. I would welcome comments from anyone.

Mark Dodd
Chartered financial planner and senior associate
John Lamb Partnership

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