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Mitchell Farrar defends claims firms

Not all claims management firms are rogue traders, Mitchell Farrar is arguing.

The firm, which owns Investor Compensation Claims, has hit out at reports on claims firms that suggest the industry as a whole is unscrupulous and that disreputable practices are widespread.

Jim Rowley, group managing director at Mitchell Farrar, says his firm is not like others and never charges up front fees.

He says: “As a reputable business, we are fiercely proud of our compliance record and have recruited a specific compliance director to ensure our transparency and strict code of conduct is adhered to.

“As media reports have outlined, some operators in this sector may not be as committed to customers – and indeed staff – as we are but it’s important that the sector as a whole is not targeted broadly and brought into disrepute across the board.”

Rowley adds that treating customers fairly is always at the forefront of the firm’s claims management business and that it is also mindful of operating within the regulatory frame work of the Ministry of Justice.

He says: “Claims management companies have helped to raise awareness of a major mis-selling scandal for millions of people and have helped bring the banks to justice.”

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England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.

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