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IFA&#39s anger over NU letter to client

Scunthorpe IFA Bob Riach has attacked Norwich Union for encouraging his clients to shop around for a new adviser after he had introduced business to the life office.

The Riach Consulting proprietor is outraged over a letter NU sent to his client confirming the cancellation of a term insurance policy, which was later reinstated. The letter included the line: “If you do not have an IFA, please call IFA Promotion.”

Riach, who was copied in on the letter, says NU sent it after his client cancelled the policy he recommended because their house purchase had fallen through but it has since been reinstated.

He wants NU to remove the IFAP recommendation from letters sent to clients who take out the life office&#39s products through an IFA.

NU spokesman James Evans says: “This standard letter is issued when a policy is cancelled as it can be years after the policy was taken out and the person may no longer have an IFA or have moved.

“We are actually reinforcing the value of using an IFA. But we are investigating the complaint.”

Riach says: “It annoys me that NU is doing this as I introduced the client. The company should have some way of separating direct from intermediary introduced business.”


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