'Dracula and The Wolfman': IFA raises TCF concerns over closed companies with FSA

Laura Miller
clock

An IFA is planning to raise with the Financial Services Authority (FSA) concerns he has that some closed fund companies are not treating customers fairly.

Neil Liversidge, IFA at West Riding PFS, said he has experienced a raft of bad service at Reassure, Equitable Life and Phoenix to the extent that he has renamed the trio ‘Dracula, Frankenstein and The Wolfman'. Liversidge, who is a council member of the Association of Professional Financial Advisers and plans to raise the issue with the organisation and from there the FSA, said the companies deliberately waste time and "penny pinch" at his and his clients' expense. Examples of where he believes the companies are not treating clients fairly is applying far more stringent identity requi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA issues warning notice against Crispin Odey over 'lack of integrity'

FCA issues warning notice against Crispin Odey over 'lack of integrity'

Regulator alleges 'reckless disregard' on governance

Cristian Angeloni
clock 04 November 2024 • 2 min read
FCA bans and fines two over pensions transfer advice

FCA bans and fines two over pensions transfer advice

'Poor advice' related to BSPS transfers and other schemes

Jen Frost
clock 31 October 2024 • 2 min read
Donre Advisory-owned SIPP operator enters administration

Donre Advisory-owned SIPP operator enters administration

PSG SIPP administered schemes transferred or to be acquired

Jen Frost
clock 29 October 2024 • 2 min read