E&OE

Mistakes and Corrections

None of us are perfect but many of us strive for that. That is as true for investment, pension and insurance companies as the rest of us. Occasionally things do go wrong and errors creep in. Perhaps more importantly than having a company that pretends to be perfect (or thinks it is perfect) is a company that realises if it has made a mistake, apologises and then puts it right.

With the number of variables involved in investment funds, the number of funds and the general complexity it is no surprise that often a provider, in an audit, picks up an error.

This could be a pricing error (under or over), a tax error, a naming error or other similar mistake.

Normally when this happens the provider will inform me, the IFA, of the error that has been found and what they will be doing. They then give me a list of my clients it applies to.

They then write directly to the client, informing them what went wrong, any implications, what happens next and generally putting everything back where it should be.

So whilst this kind of thing is far from a day to day occurrence neither is it normally cause for concern.

If you receive one of these letters and after having read it, it still doesn’t make sense, please contact us and we'll be delighted to explain exactly what is happening with your plan.
But if you receive one and it all seems OK to you, feel free to carry on as normal.

There are examples below.