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Eagle compensates broker

Eagle Star has paid £1,500 in compensation to a Sussex-based IFA over an approach to a client by its now defunct direct salesforce.

The firm, Lilley Cohen, received the payment as a result of a row over an approach by an Eagle Star salesman to one of its clients holding a commercial mortgage with the life office.

The client was approached during a fifth-year review of the £850,000 commercial mortgage.

Lilley Cohen partner Anthony Cohen says: "They have paid in full and now the situation has been resolved entirely to our satisfaction."

Eagle Star sales and marketing director Jim Reeve says: "We are happy that we could resolve it amicably."

This is the second payout by Eagle Star in six months over an incident of alleged client poaching involving its salesforce. Eagle Star disbanded the salesforce last November.

IFA Garry Spencer, of Hove-based Wilbury Financial Management, received a £200 payment last November.

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