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Cooperative doesn’t live up to its name

As an adviser in this age of great enlightenment of the RDR, transparency, CAR , TCF, it is a shock to be swiftly transported back to the 1970s when asking for an open market option from the Cooperative Insurance Company which just seems to want to hang on to the money to the bitter end.

I have one client with throat cancer where the receiving scheme had to send the paperwork five times to the CIS as they said they kept losing it. This started in February and the client has still not received anything.

Another client has faxed three times, emailed once and posted twice his transfer discharge papers to be met with the CIS’s standard response we have never received anything.

The CIS’s first line of obstruction is to staff the department with young, inexperienced people who take the flak and the blame. This a standard tactic of CIS’s Victorian management style and does not match with their highly publicised ethical front.

John Miller

Independent financial adviser


ASA studying MoneySense ad campaign

The Advertising Standards Authority has launched a formal investigation into NatWest’s MoneySense adverts, focusing on its claims of “impartiality”.

Mott goes against consensus

Bill Mott is once again going against consensus by reducing exposure to cyclicals in favour of defensives in the PSigma Income fund.After backing domestically-sensitive stocks for much of last year, Mott is now taking profits after the recent rally. He is adding to companies he says will deliver superior growth in tough economic conditions. He […]

Barclays approached over possible BGI sale

Barclays has confirmed receiving expressions of interest in buying the Barclays Global Investors (BGI) asset management business.In a statement to the stockmarket, Barclays said it had received “a number of expressions of interest” in buying its iShares trackers business, “including unsolicited interest in the broader BGI business”.Barclays announced the sale of iShares to CVC Capital […]

Downsizing is on the up

Almost a quarter of adults would downsize or release equity from their property to fund their retirement, according to research from Friends Provident.

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Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.


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