A past business review carried out by Aegon-owned national IFA Positive Solutions identified ‘isolated' cases of poor advice but no systemic mis-selling issues, the company says.
Client redress was paid in a "small number of cases" but no partners lost their jobs, CEO Jim Reeve says. The company launched the probe, which involved randomly checking completed case files in four product areas, at the beginning of the year to eke out any underlying suitability-of-advice issues. Reeve said the review was necessary following FSA action against a number of firms for advice failings. "The review was as positive as I could imagine," he told IFAonline. "There were isolated cases but, as a percentage of the number of files checked, it was very, very small. "There h...
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