View more on these topics

FSCS warning against chaser using its initials for online campaign

The Financial Services Compensation Scheme has warned consumers about a claim management firm which is using the FSCS initials as part of its online advertising.

In a consumer alert posted on its website last week, the FSCS says it is concerned that the claim management firm, which it does not name, is misleading customers. The alert says: “A claim management company is using the initials of the FSCS in its online advertising. This may mislead consumers. The FSCS is not connected to the company, which charges for its services.”

When Money Marketing entered FSCS into Google, the first sponsored search that appeared was an advert and link to the website of claim firm Professional Personal Claims. The link opens a page titled FSCS, which gives information about the claim process.

The firm was unavailable for comment at the time of going to press.

The FSCS estimates consumers pay a total of £12m in fees to claim management firms each year. Its figures in January show that between 2008 and 2011, over three-quarters of the 21,575 consumers who submitted payment protection insurance claims did so through a claim management company.

Bloomsbury Financial Planning partner Jason Butler says: “Whenever there is money to be made, you will have claim firms coming out of the woodwork. I am pleased the FSCS has decided to warn people about this.”

Recommended

1

Osborne defends Budget U-turns

Chancellor George Osborne has defended a series of U-turns on measures set out in the Budget saying it is right the Government listens and changes its mind when necessary. Since March’s Budget, the Treasury has scrapped plans to cap tax relief for charitable giving, cut proposed VAT of 20 per cent on static caravans to […]

Labour: EU state aid rules do not apply to Nest

Labour says EU state aid rules no longer apply to Nest and is urging the Government-backed scheme’s independent trustees to seek legal advice on removing its restrictions before 2017. In March, the work and pensions select committee published a report calling for Nest’s contribution cap and the ban on transfers in and out of the […]

Focus on new opportunity

The turbulence we all hoped would end soon has continued and even gained momentum, so where can you focus to build momentum in your business? There has already been considerable coverage of the opportunity in the buy-to-let market, so I think the newbuild market is worth a closer look. Every new house built creates five […]

Known unknowns

Last week’s market volatility reminded us we have all been here before but the world is now a very different place

It’s too soon to write Apple off

By Ali Unwin, Chief Technology Officer & Fund Manager at Neptune Earnings season is noisy in the technology sector and a good quarter does not make a good investment. Numbers that come in marginally ahead or behind ‘market expectations’ are extrapolated to produce narratives showing the rise or fall of companies. Our job as technology […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment