The Endowment Diary

The Endowment Diary

Text

The Endowment Mis-selling Debacle - one of the UK's worst financial scandals

Saturday, September 20, 2008

Adviser Claims Foul by Norwich Union

Adviser Claims Foul by Norwich Union

The FT reports that Dolly Pickering, of Heather, Moor & Edgecomb (an IFA), has claimed that Norwich Union's change in projection calculations has led to an endowment misselling claim being brought against it.

Ms Pickering was informed of a £6K drop in the value of a client's policy, caused by an improvement to the accuracy of estimated maturity value (EMV) calculations.

Ms Pickering stated that it was unfair that IFAs were being punished for selling endowment policies, whose initial projected values were inaccurate, and holds the providers responsible.

No comments:

Post a Comment