Scottish Widows accused of IFA agency cull

A number of IFAs have contacted IFAonline to say the firm has either been warned by the insurer its agency will be closed, or had it shut down without notice. Advisers are unable to place business with some life offices if no agency arrangement is in place, sparking concerns they are therefore unable to brand themselves 'whole of market'. In one case, an IFA says Scottish Widows informed affected clients of its decision, but not him, prompting some to inquire whether he was closing down. Advisers say the "petty" and "aggressive" tactics prove traditional life offices are beginning to ...