View more on these topics

IFA wants redress after Axa agent &#39harassed&#39 clients

Axa Assurance is refusing to compensate an aggrieved IFA after he alleged

that one of its agents has sabotaged his client relations.

IFA Dougie Jordon claims that an Axa agent tried repeatedly to scupper his

client relationships but has received no more than a slapped wrist from the

insurer.

Jordon&#39s clients received letters from the Axa agent alleging that they

had been misrepresented in their dealings with the adviser.

The letter prompted one client to lodge a formal complaint with Axa about

the salesman&#39s approach. Axa apologised and said it would not happen again.

However, Countrywide net- work member Jordon wants the life office to make

good on his lost business.

Axa refutes any claim for compensation and has assured Jordon that the

incidents will not be repeated.

A letter from the Axa compliance department&#39s complaints team manager Jim

Scarborough says the life office has considered Jordon&#39s claim for

compensation but it regards the issue as a personal matter.

It says: “Should you wish to pursue it further, you must do so through the

agent.”

Jordon says: “When an IFA&#39s clients are harassed by overzealous tied

agents, the IFA has an obligation to bring this to the attention of the

company they represent. Having tried to do so, I find they have little

interest in repairing the damage done and are more inclined to brush it

under the carpet and that simply is not on.”

Axa press officer Graham Bohannon says: “This is a dispute between an

appointed Axa representative and Doug Jordon.

“We do not have a say in how our representatives run their businesses.”

Recommended

IFAs to get options in Assureweb flotation

Network DBS is gearing up to float Assureweb in a move that will bringsubstantial financial benefits for IFAs.Market analysts expect the IFA-only online quotation and trading servicewill float for up to £250m.DBS will distribute cash to its members following flotation. This willtake the form of a share-option scheme. Shares will be offered to Assurewebsoftware users […]

Co-op warning on stake ads

The Co-operative Insurance Society is warning that the Government&#39s £5mstakeholder ad campaign will be a waste of money if it is not backed upwith education.The life office fears a one- dimensional ad campaign for the pensionscheme, backed up only by decision trees, will send a half-cocked messageto an already confused public.CIS says the hardest hit […]

Mortgage merger poses difficult questions for Mr Choice

No decision has been taken on how the combined salesforce of Bradford &Bingley IFA and mortgage specialist John Charcol will operate, according toCharcol&#39s new commercial director, Ian Darby.Having been selected for the post above axed Charcol chief executive KeithScott, Darby says details on how the branding, administration and paystructures of the 650-strong salesforce will operate […]

Is trap springing on the boomtown rates?

The overheating housing market will cool down towards the end of the year,according to Nationwide Building Society.The first quarter of 2000 has seen the usual hot spots in the market butNationwide says the rate of house price rises is unsustainable.The South-east has continued to drive the trend, with prices up by 20.8per cent, followed by […]

Help, I’ve been appointed as a trustee. What are my responsibilities?

Graeme Robb, Technical Manager at Prudential looks at the key duties and responsibilities of a trustee.  This article will consider the following: Duties to be performed on appointment Investment duties Protecting the interests of beneficiaries Keeping accounts and records Distributing property to beneficiaries Duties to be performed on appointment Obtain a copy of the trust […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment