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‘Christmas money making opportunity’ email prompts Scottish Life compliance review

Scottish Life is set to review its compliance procedures after one of its sales staff sent an email to advisers telling them they could make money for Christmas spending by transferring clients’  pensions.

The email, reported in today’s Financial Times, was entitled ‘Christmas money making opportunity’ and read: “If you would like to make some extra money for Christmas then read on.

“Do you have any existing clients that need a review of their current pension arrangement? If the answer is yes, then all I ask is that you send me the projections to retirement and the client’s attitude to risk.”

A spokesman for the company confirmed that the email was issued to a small group of IFAs last Friday. Disciplinary procedures involving the individual behind the email have begun and the firm says it will examine its compliance process. 

The spokesman adds: ”The tone of the email was inappropriate even though it was meant in a light-hearted way.”

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  1. oh for goodness sake…. this is a non story… emails of this ilk this fly around frequently and surely an IFA worth his/her salt can evaluate the validity and practicality of the suggestions without resorting to copying the email to the individual’s boss and whining about it…. Presumably the same IFA whines that he never gets any help/support from Company X…

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