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Petrol shortage leaves IFAs running on empty

IFA firms have suffered losses running into tens of thousands of pounds following the petrol crisis which swept the country last week.

IFAs claim to have been hit hard by the fuel shortage, with clients unable to reach their offices and IFAs having to cancel home visits.

Many firms predict they will never be able to recoup much of the financial damage caused by the chaos.

Garage forecourts may be returning to normal but IFAs say the business they have lost cannot be recovered as quickly.

IFAs up and down the country say they have been badly hit because their business means they have to meet people on a face-to-face basis.

Wentworth Rose managing director Philip Rose says: “A lot of meetings have had to be postponed because of petrol shortages. I estimate each of our advisers has lost up to £2,000.

“As a firm, we have lost about £50,000 because of missed meetings and I have not spoken to one IFA who has not had to postpone meetings. This is a big problem.”


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