“We are now in the process of paying the annuity to the client and can confirm that there has been no delay in the payment being received, therefore no financial detriment has been caused.”
However, Pruggmayer stated that “Scottish Friendly have had all the paperwork on this for more than six weeks and still have not paid us.
“We wrote to the chief executive two weeks ago and, like his payments system, he has not sent us anything either.”
Scottish Friendly has now stated its commitment that the payment will be made to Pruggmayer as soon as the company is in a position to finalise the renewal.
This isn't the first time Scottish Friendly has come under fire for its dealings with the same adviser; in 2021, FTAdviser reported that Pruggmayer had been left chasing money after being hospitalised.
tom.dunstan@ft.com
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