View more on these topics

IFA claims Friends is poaching his clients

A Swansea IFA says Friends Provident is trying to poach his clients again

despite his demand that the company takes them off its mailing lists.

Hartley Greatbatch & Co IFA Keith Lewis is angry that one of his clients

has been invited to one of Friends&#39 inheritance seminars although he asked

the company to remove his client&#39s name after a similar invitation more

than a year ago.

Friends says its local branch is at fault and the invitation went out

without checks being done to avoid a crossover between the IFA and

direct-sales arms.

But Lewis claims the Friends is “attacking” his client base. He says he

has also received the invitation, which he puts down to being a paid-up

Friends policyholder himself. The deceased wife of his next door neighbour

has also been invited.

Friends spokesman Jim Murdoch says: “IFAs are our bread and butter so we

do not want to cause them upset. This should not happen. We need to correct

it. IFAs should contact us if they have the same problem.”

Lewis says: “Every IFA should know Friends Provident will possibly sooner

rather than later attack their client list and they have no control

internally on checking client lists they are using and they probably don&#39t


Letters, p24


Open up the alternative markets

“Death knell” and “wake-up call” seem to be key items in the vocabulary ofany article linking stakeholder pensions and IFAs. In financial parlancethis is, of course, a form of hedging.On the one hand, IFAs could be decimated by the introduction ofstakeholder pensions, or evolving IFAs could survive and thrive.There is no evidence yet to suggest […]

Julian Gibbs

Many international investors and, indeed, UK investors, wish to put moneyinto with-profits endowment policies. There have been a few onshore fundswhich have shown good returns by investing in secondhand policies but someof them had difficulty in obtaining a sufficient volume of suitablepolicies at the right price.A new company has been formed, run from the Isle […]

Scottish Widows has introduced the flexible investment bond

Scottish Widows has introduced the Flexible Investment Bond, a unit-linked bond aimed at investors who are aged 50 and above and thinking about retirement.Investors can choose to invest in a maximum of 10 out of a total of 23 Scottish Widows funds. This enables them to choose a range of funds for income or growth, […]

Product firms unsure of Assureweb

Providers are weighing up whether to renew their Assureweb subscription assome firms feel it has failed to pro- vide a satisfactory compara-tiveservice.Some life offices are refusing to sign up to the DBS-owned portal untilthey are certain the service is delivering on its promises, as they fearthey are merely paying for the portal&#39s development costs. It […]

Spring has sprung

Well, it’s been lovely to see a little bit of sunshine, even if it was only a brief appearance. I live in Scotland so, believe me, it was very brief.  Of course, with even the tiniest hint of spring, thoughts turn to the inevitable clearout that must take place.  And that got me to thinking […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment