I wanted to say ‘well done’ to Steve Foreman – ‘Dreaded PPI claim that ended with a cheque for me’ (letters 29/11/12).
With RDR ahead and firms adopting a ‘client agreed’ charging approach, we can not accommodate spurious complaints nor serious provider mistakes.
In the last few months we have issued invoices to two providers who have made serious mistakes which have resulted in us spending hours resolving the resulting issues – both (quite rightly) asked us to quantify what had happened and thereafter found in our favour and made a financial settlement in compensation. Whilst not fully meeting our time cost, it at least went some way to do so.
With regard to complaints, the limited number of complaints we receive are ALL via one particular claims management company – the latest complaint has been found to be without foundation and we are considering taking the sort of steps Steve did. The facts presented to us were incorrect and I therefore take the view either the CMC is undertaking no due diligence or this is potentially an attempt to defraud our business.
It’s also worth noting that the CMC in question ‘cold called’ me at home on a telephone preference service listed phone line telling me I was entitled to compensation (stating they had records confirming this). When challenged on this (I’ve never had PPI) their confidence significantly reduced and I made them aware I thought their approach was borderline fraud.
I also received a telephone call from a client who had also spoken to the said CMC – he was being encouraged by the CMC to make a complaint because ‘he had nothing to loose’ – what’s more the endowments he was being told to complain about matured with a surplus. Thankfully the complaint never materialised however these points demonstrate the approach CMCs are taking – clients indeed have nothing to loose, but IFAs who have to spend time investigating complaints which are essentially without justification do…..
I therefore intend to consider how we as a firm can hold the CMC to account and I feel that this recent complaint is the start of a more firm stance we will try and to take on such matters.
Dobson & Hodge Ltd