Rebate of IFA charges

ifacharges

New Member
Feb 26, 2013
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In 2007 I engaged an IFA to sort my pension plans.
Prior to starting the work I sent an email to the IFA (which has been confirmed as received) stating that I would only work with the IFA on the basis that any commission he received above £x was to be shared with me.
As part of the transfer of my pensions I signed a document confirming payment to the IFA of some £2,000 above the £x in my email
I have recently approached the IFA requesting a rebate of c£1,000 - he is refusing and suggesting that I take the matter up with his "umbrella organisation"
My view is that his organisation will be bias towards the IFA - so I would rather take the case via the Small Claims Court
Thoughts welcomed
 

Flashgordon

New Member
Feb 9, 2013
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Write him a letter headed "formal complaint" and if he the matter isn't resolved to your satisfaction in 8 weeks you have the right to go to the Financial Ombudsman because IFA's are regulated by the FSA (will be the FCA soon). You can ring the FOS helpline for advice. I presume you've got a copy of the email and "read receipt"?
Good luck.