A claims management company has been reported to the Ministry of Justice (MoJ) over claims it repeatedly cold-called a financial adviser offering him £1,500 if he had been mis-sold payment protection insurance (PPI).
Martin Bamford, of IFA Informed Choice, said the Claims Advisory Group called him several times on his mobile phone offering cash compensation on the assumption he was mis-sold PPI. It said it charged a fee of 39% of the value of the settlement on a no-win, no-fee basis. Bamford rejected the call and has now written to the MoJ arguing the firm's tactics are unfair on members of the public who may not know they do not need the services of a claims manager to secure PPI compensation. "My fear is many people who receive these calls will not realise they do not need the assistance of 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
