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Endowment Incompetence

13»

Comments

  • Lewie
    Lewie Posts: 365 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    cooltt said:
    My "advice" is to bring you back down off of the ceilng instead of screaming at everyone in the room forcing your view point.
    I suggest you see a shrink if you can hear screaming.
  • Lewie
    Lewie Posts: 365 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    dunstonh said:
    Agreed, however, the Endowment sold also needs updating and maintaining until it's demise.

    There is no business sense in doing that.  

    I wasn't talking business sense, I was talking duty of care.
    If there is no duty of care then so be it.
    dunstonh said:
    I still think it would be easier to do than you may think.

    Its not.  

    Then I must assume that you are an IT expert and know exactly how it would be done?
    If so, enlighten me.

  • dunstonh
    dunstonh Posts: 120,166 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I wasn't talking business sense, I was talking duty of care.
    If there is no duty of care then so be it.

    There is no duty of care issue.  You didn't have online access when you bought it and there was nothing to suggest you would.

    Then I must assume that you are an IT expert and know exactly how it would be done?

    I know a fair bit about IT and have a client that has worked on insurance company IT.  I also read the financial press about the issues and costs of upgrading legacy hard coded systems.     

    Even the insurers that have spent billions (ie. Aviva) have still not found a way to get to one system and still need to maintain old hard coded systems for a good chunk of legacy plans. 


    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • SpiderLegs
    SpiderLegs Posts: 1,914 Forumite
    1,000 Posts Second Anniversary Name Dropper
    edited 9 August 2020 at 1:37PM
    Lewie said:
    ...just setting the scene.. 
    Methinks the scene has been perfectly set by reading your delightful responses in this thread.
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