IFA jailed for scamming insurers

EdInvestor

IFA online

Strangely it seems that nobody ever jails advisors af any kind for scamming customers.

Perhaps that is regarded as just routine?

jem16

You keep saying that you have nothing against advisers and are not biased against them.

However with this kind of post it only goes to prove exactly how biased you are.

Ian_W

EdInvestor wrote: »

Strangely it seems that nobody ever jails advisors af any kind for scamming customers.

Perhaps that is regarded as just routine?

Perhaps I'm missing something in your raison d'etre, Ed but the fraud was for £1 MILLION - I expect an IFA who scammed clients of that amount would also receive a healthy dose of porridge!

Oh, and look what a quick Google turned up - HERE, HERE & HERE.

Still, no point in letting facts get in the way of a good prejudice, eh ED?

a7man

did you always want to be an IFA but never made it or something Ed?

EdInvestor

Ian_W wrote: »

I expect an IFA who scammed clients of that amount would also receive a healthy dose of porridge!

Oh, and look what a quick Google turned up - HERE, HERE & HERE.

Thanks for that - good to see that frauds against customers are also subject to legal crackdown:T

whiteflag_3

EdInvestor wrote: »

IFA online

Strangely it seems that nobody ever jails advisors af any kind for scamming customers.

Perhaps that is regarded as just routine?

This is why I have problems with treating any of your posts seriously Ed- you are clearly have an anti IFA, so perhaps you should change you signature to reflect this. Then the unsuspecting punter will be better informed.

Joe_Bloggs

If the adviser, in question, has professional indemnity insurance then what possible problems could the consumer face ?
J_B.

alzibar

good on you ed, this link says it all about advisers; Moneyweek:http://www.moneyweek.com/personal-fi...-be-lucky.aspx

a7man

alzibar wrote: »

good on you ed, this link says it all about advisers; Moneyweek:http://www.moneyweek.com/personal-fi...-be-lucky.aspx

All this says is go to an IFA rather than a tied or multi tied adviser and pay a fee rather than commission, which most people on here know anyway.

The fact is, a lot of people go to an adviser because they dont have time to do it themselves, and they sort everthing out.

It also says dont go to an IFA if you have about £100 left to save at the end of the month...no brainer article..

EdInvestor

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The bad news is that most IFAs are paid on commission in just the same way as tied and multi-tied agents, just by more different firms – i.e. product providers bung them a pile of cash if they sell you something but not if they don’t. So no sale, no holiday in the Maldives. This means that they too – despite their regular fury at the very suggestion – can’t really be seen as much more than sales people either.

You can either pay a fee or learn to DIY - which may be more attractive when you learn how much the fee is.
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jem16

EdInvestor wrote: »

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You can either pay a fee or learn to DIY - which may be more attractive when you learn how much the fee is.
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It's not all down to money.

Some people will never have the interest nor the knowledge to do DIY investing. Some people will have a go and lose far more than what they would have paid an adviser.

Do you service your own car and central heating boiler?