An insurance call centre business, which had been accused of poaching broker customers, appears to be winding up its operations.
Hayden Williams Independent Financial Services has made an application to be struck off the Companies House register and dissolved.
However, it has emerged that this application is on hold, as an objection has been received by the registrar.
Last year four brokers – including London Money and MOV8 Financial – complained to Mortgage Strategy that their clients have been cold called by firms linked to this company.
These brokers reported that their customers were encouraged to rebroke existing Legal & General life insurance policies, which offered cheaper premiums, but less comprehensive cover.
Clients were contacted by The Financial Assessment Centre, and The Review Bureau, both based in the same Swansea office.
TRB is an appointed representative of Hayden Williams Independent Financial Services and TFAC is a trading name of Andrew Collier, also a Hayden Williams AR.
According to Companies House, Andrew Collier and Shaun Edward Govier have both resigned as directors of FAC in February this year.
It has been reported that some clients thought they were talking directly to L&G.
At the time L&G said that Hayden Williams had an agency to writes its protection business. However it says: “Hayden Williams IFS Ltd assumes full regulatory responsibility for any advice and operating procedures for TFAC or The Review Bureau.”
L&G did not want to comment on why this agency was now closing.
MOV8 Financial director Robin Purdie says: “It is music to my ears that these firms appear to be no longer trading.” However he warned that this was an “ongoing problem” that brokers face.
“There are a number of other companies we have heard of operating in a similar fashion.
“I wonder about the timing of this closure just a week before the new GDPR rules come into effect. This may be just coincidental, but we hope these companies don’t simply spring back under a different name.”