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Pearl transfer took nearly three months

A Lincolnshire IFA&#39s retired client has had to wait over two months to access a six-figure sum from Pearl which he needs for retirement planning.

Riach Independent Financial Advisers proprietor Bob Riach requested a transfer of £257,000 from Pearl&#39s closed with-profits fund to Prudential on May 18 and only received confirmation the fund has been transferred last week.

Riach says it took seven phone calls to Pearl before a cheque was finally sent. A dispute between Pearl and Pru over paperwork means the cheque has not been paid out.

Riach says: “Pearl are not bothered about service now they are not writing new business. They are just hanging on to my client&#39s money. This sort of service level is not acceptable.”

Pearl owner HHG spokeswoman Karen Smith says: “There has been a delay and we have written to the customer to apologise. We are offering the client interest to compensate for the delay.”

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