Forces Financial

Discussion in 'Finance, Property, Law' started by Legs, Jan 12, 2012.

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  1. A little warning to all you serving members of the Armed Forces out there: Whatever happens, whatever they say, whatever they offer. Do NOT touch Forces Financial. Go nowhere near them. Don't even contemplate using their services for anything at all. If you see one of their reps, cross the road to avoid them. Don't be fooled, they will **** up anything that they touch.

    (This is a personal opinion based on my own personal experiences, and is not the opinion of the MoD as a whole, ARRSE or anyone else - But really, they are ****ing dogshit)
  2. Really? I have their kit insurance and they were very helpful in replacing my laptop.
  3. I also have used them on a number of occasions - very happy and can certainly recommend
  4. Hi Legs,

    I take it that you have phoned them and complained. All decent companies take their reputations seriously and things can go wrong even for the best out there.

    Knowing some of the FF team, I'm sure they'd be very upset to think they'd failed you.

    Kind regards,

  5. I totally concur with Legs about forces financial. Their customers service is appalling in the sense that they don't give adequate information and I found them not customer-friendly to a degree that was unacceptable. Whatever you do avoid them if you can. They weren't transparent in their terms when I dealt with them. While selling the policy they claimed that anything with a value of less than 1000 pounds doesn't have to be declared and when you claim its a nightmare. You've been warned lest you join this forum one year down the line to share these personal sentiments
  6. So what was your experience Legs?
  7. My experience. They cocked up a Mortgage application to such an extent I nearly lost the house I was buying, and it ended up costing me an extra £500.00 in fees which they claimed was not their fault because their Agent was a 'Freelancer'.
  8. BiscuitsAB

    BiscuitsAB LE Moderator

    feck off! If their agent gave you a business card with his name and their company on and you go to the FSA register search either under their company or his name and find that he is registered as an adviser with their company then he works for them and its their responsibility.
    • Like Like x 2
  9. Well why do you think big companies bother engaging people at all as independant agents on a freelance basis, if that simplistic view were entirely true ?

    a) You can order them about, dictate what they do, when & how they do it for you, just like an employee. But crucially without the legal responsibilities or duties an employer has towards an employee, nor the cost.

    b) When he gets it badly wrong & it might cost a lot of money, in such circumstances he then has lttle or nothing to do with you. The company's responsibility for his actions, even if some exist are far less than for an employee. The risk of damage has been minimalised & neatly ringfenced should anything untoward occur.

    I know of companies who have taken one look at the potential bill for the misdeeds of their, supposedly independant self employed agents, who had to act & take instructions from the company just like employees, who simply walked away & washed their hands of the whole thing, saying he was nothing to do with them & accordingly it was unfortunarely, just not their problem.
  10. It's not quite that simple sfs.

    Since leaving the Army I have been worked in various guises in the insurance industry. Initially I acted as a consultant to a large underwriter. Whilst acting as a consultant to the underwriter, although employed by a consultancy company, the underwriter was liable to the Financial Services Authority for my activities.

    In time I set up my own company and acted as an Introducer Appointed Representative. Again, the insurance company I was representing carried the can and their compliance department oversaw my work.

    Then my company was independently authorised by the FSA and now it's my neck that is on the line. However, it's not only my neck that's on the line. Whenever I use another company's brand (such as PAX) with that company's permission (in this case Aon) they also become jointly responsible for the content. So any marketing material with need their sign-off. If I am paid to distribute/sell one of their products then they are also accountable for how I do it.

    When it comes to PAX Personal Accident, then the underwriters of both the personal accident and life elements also insist on signing-off any marketing material, such as powerpoint presentations and the accompanying scripts. Their compliance departments also periodically visit my team out on the ground to ensure that we are acting correctly.

    Now that's just for distribution of general insurance products. When it comes to giving advice (and especially on mortgages), things become even more stringent.

    As Biscuits says, the FSA register is the way ahead. If someone or a company is independently authorised then they are the first port of call for a complaint and they must have insurance in place to cover Employee Liability. If they are an Introducer Appointed Rep or Appointed Rep, then go straight to the firm that's appointed them.

    If you can't find them then go back to the broker and insist that they help you contact their agent. You always have recourse the Financial Ombudsman Service (for free), should you be stone-walled. If you pay someone to distribute your products (either as an employee or as an agent) then you are most certainly responsible for how that is done. Of course that doesn't stop firms trying to fob people off if they don't know their rights ;-)

    • Like Like x 1
  11. Claimed for over a grands worth of outdoor gear that I lost, cheque was in my hand within weeks. No problems from me.
  12. Interesting that the OP has used a public site to not only complain but to, in a subversive manner attempt to influence others opinions presenting little more than angry words and a very scant over view of his/her particular issue.

    Funny that, I got a PM once telling me what a ****ing complete trumpet you are, spoilt, overbearing and was accused of using your confusion re - your sexual identity, of being a very demanding and resource sapping individual, both pre and post OP that had and subsequently has had people dancing round on their tip toes, should he have gone straight for the jugular and just started a slagging thread about you based on no evidence and **** all supporting info?

    You remain a toilet..
  13. ........Looks like Marks & Spencer didn't have any peace & goodwill stuffing left for your christmas dinner then.
  14. BiscuitsAB

    BiscuitsAB LE Moderator

    In light of recent posts I'm locking this. Its not the Naafi and I'm not interested in watching this develop into a slanging match.

    Being in possession of most of the facts of the original case I feel that the OP has grounds for complaint and would advocate that she does something about it formally.
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