IFA anger at Woolwich client review invites

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Woolwich has been accused of attempting to poach clients from financial advisers after an IFA discovered the bank is sending letters to consumers inviting them to review their financial arrangements without his knowledge.

Paresh Shah, intermediary at Financial Solutions 2000 in Kent, says he had been informed by some of his clients they have been invited to attend Woolwich branches to discuss their current mortgage requirements. At the same time, however, he was not informed by Woolwich they would receive this invitation and the situation has been made all the more worse as one of the standardised letters sent out to his clients included inaccuracies about the client's circumstances. Shah says one invitation has particularly angered his client as the letter suggested the term of their fixed-rate term was n...

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