Widows markets direct sales team to IFAs' existing clients

In a move advisers have dubbed "unethical" and "aggressive", the insurer promotes its in-house sales team in letters to clients when it informs them it has terminated its agency agreement with their IFA. The revelation comes just weeks after Professional Adviser, IFAonline's print title, also unmasked accusations the insurer is arbitrarily shutting adviser agencies as a result of falling business levels. Scottish Widows says as the client holds an investment with the company, it sends a letter "out of courtesy", adding it includes a contact telephone number for its direct sales team "fo...