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Unwanted Friends

Laurie Dean&#39s client (Money Marketing, September 20) is certainly not alone in being subjected to a plague of invitations to Friends Provident IHT planning (that is, buy a bond) seminars.

I have just received the latest of many. Every time this happens, I call them and suggest that reneging on their no cross-selling vows to the blatant extent of trying to foist their inferior offerings on IFAs is not a clever idea but still the invitations come.

Soliciting IFA clients is dumb enough but targeting IFAs themselves despite warnings beggars belief.

Evidence that FP is steadily losing both the plot and the battle might be found in their recent results.

If concentration on stakeholder (including massive incentivisation of their direct salesforce to bring in tons of non-profit business) does not sink Friends Provident then their cross-selling just might.

Expert commentators elsewhere in these pages might rate FP&#39s shares “a sell on fundamentals, at best, a hold on takeover hopes”.

Andrew Martin

Managing director,

Key Benefits,

Sutton, Surrey

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