Retiring IFA pursued by claims firm over 23-year-old case

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A 74-year-old IFA has put his retirement plans on hold to contest a £250,000 mis-selling case levelled by a claims management company (CMC) - relating to advice given almost a quarter of a century ago.

In 1989, Philip Griffin, an IFA at Philip Griffin and Associates, transferred two clients into personal pensions from the Cleveland Potash scheme, due to fears the company was about to go out of business. Though the company did not close, the new pensions with Scottish Widows achieved "significant growth", Griffin said. But in October, he received a complaint from Money and Me Claims alleging mis-selling on behalf of the clients, as well as a number of other allegations. "[Money and Me] made a series of complaints that were ludicrous," Griffin said. "One of the claims was for an IS...

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