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Royal London backs ban on pension cold calling

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Royal London backs ban on pension cold calling

Royal London has added its name to the petition to ban pension cold calling started by IFA Darren Cooke.

Cooke (pictured), director of Derbyshire-based Red Circle Financial Planning, launched the petition after seeing a BBC Panorama documentary which investigated cold calling at companies offering pension investments.

The petition has now garnered 1,800 signatures including the backing of networks Tenet, Sense and Personal Touch Financial Solutions.

Former pensions minister Ros Altmann has also raised the issue in the House of Lords. 

Royal London said it hoped its support will help the petition reach the 10,000 mark, which would mean the government will have to formally respond to it.

Phil Loney, Royal London chief executive, said: ‘As a member-owned business, Royal London is focused on ensuring the best outcomes for consumers. Unless tougher action is taken on cold calling, vulnerable people will continue to be at risk of unscrupulous sales calls which can put their savings at risk. I am pleased to commit Royal London to supporting this campaign.’

Cooke said Royal London’s name shows the petition is gaining momentum and is hopeful that other providers will join the petition soon.

‘It is vital that we unite to tackle the scourge of cold-calling,’ he added.

The petition can be signed here.

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