Problem providers: Stick or twist for the sake of your firm's efficiency?

Months for responses

clock • 7 min read

Arduous admin, lengthy delays and communication practices that hark back to the previous century are just some of the frustrations experienced by advisers when dealing with providers. But what can, or should, be done about it?

Providers taking a painfully long time to deliver something people expect to be straightforward and simple, like transferring a client's defined contribution (DC) pension from one provider to another, for example, is a common complaint among advisers. Inefficiencies can then impact advisers' businesses, forcing them to waste time and money that could better be spent elsewhere. Indeed, "old school" life companies are particularly condemned among the adviser community, according to Red Circle Financial Planning Chartered financial planner Darren Cooke, who gave an impassioned speech on ...

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