Why it's hard to feel sympathy for Abbey Life

Professional Adviser
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The financial services industry has long held the pretence of being a gentlemanly industry that rare...

The financial services industry has long held the pretence of being a gentlemanly industry that rarely turns on its own, even when wrongdoing is revealed. But the Equitable Life debacle has started to change this and, frankly, it is hard to feel sorry for Abbey Life over the recent fine for endowment mis-selling and compliance 'deficiencies'. Is this being churlish you might ask, when surely a fine for a name such as Abbey Life is a fine for the whole industry? Simply put, no. The direct sales industry has spent years and not inconsiderable amounts of money telling consumers and the consu...

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