RESOLUTION has hit back at calls for the FSA to take action against providers of closed books of business, saying its approach is both transparent and accountable.
IFAs recently demanded the FSA improve the treatment customers receive in closed books of business from life and pension firms. A total of 91.9pc of IFAs on the Professional Adviser panel said providers’ treatment of closed books policyholders is not equal to that of active schemes. A further 88.1pc urged the FSA to investigate and remedy the situation. Responding to the criticism, Resolution said it prides itself on being open with customers. A spokesman for Resolution said the firm’s “active management” approach includes enhanced online information, improved call centre-based help a...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
