Nicole Blackmore – Money Marketing
29-Jul-2009
Barclays is continuing to publicly champion raising standards of advice and increasing consumer confidence whilst rejecting complaints from customers unhappy with the service they were given by its multi-tied advisers.
Earlier this year, Money Marketing unearthed concerns from former clients of Barclays who say they were advised to cash in all their investments and put them into a single fund – the Aviva global balanced income fund.
Not only did the clients say they were advised to put all their eggs in one basket- the provider then admitted to Money Marketing that it misclassified the fund, which should have been adventurous, not balanced.
At the PFS RDR conference on July 10, Money Marketing pressed Barclays Financial Planning products director David Stuart on what he was going to do to ensure this type of behaviour is not repeated going forward.
He insisted Barclays is dedicated to the highest levels of customer service. However Park House Financial Services partner Richard Davis says the bank continues to reject complaints about advice surrounding this particular range of funds.
Full article is HERE
