IFA shames Friends Prov in with-profits bonus bungle

Miles Hendy (pictured), of Bristol-based Fraser Heath Financial Management, complained to Friends in 2010 about an incomplete policy details statement issued for a client considering a pension transfer, the Financial Times reports. He says he told the life company its failure to include bonus information could have caused a £42,000 loss in his client's pension income if they had switched their policy based on the partial figures. Hendy first alerted Friends Provident to the problem in 2008. The life company says an administrative error meant it failed to fix the issue until August 201...