Chartered Financial Planner Darren Cooke’s official Parliamentary petition has attracted nearly 2000 signatures and has today won the backing of Royal London. This is the latest in a line of firms supporting his campaign.
He has urged industry colleagues to help him consign unsolicited investment phone calls to history’s scrap heap.
Mr Cooke APFS, Cert PFS (DM), director of Red Circle Financial Planning in Derbyshire, said: “This campaign is gathering momentum and I’m pleased to welcome Royal London as the first major pension provider to support the petition. I hope that other providers across the industry will now give their support. It is vital that we unite to tackle the scourge of cold-calling.”
At 10,000 signatures, the Government has to respond and it would trigger a Parliamentary debate at 100,000.
Royal London’s CEO Phil Loney 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.”
The petition states: “Cold calling on investments and pensions to members of the public very often leads to unregulated investment and scams. Banning cold calling would dramatically reduce the number of people falling prey to fraudsters and losing their savings and pensions.”
Andrew Tully, pensions technical director at Retirement Advantage, David Brooks, technical director and consultant at Broadstone, and Financial Planner Rajesh Modha, are among those giving public backing.
At the AMPS conference last month The Pensions Regulator revealed it is looking to work with the Information Commissioner to see how it might crackdown on cold calling as part of a project to tackle scammers.
To sign the petition, see the link on the last comment below.
This is exactly the point. https://t.co/06Vmm7jMZD
— Phil Young (@philyoung360) September 22, 2016
If anyone cold calls you about your pension 'Just Hang Up'! A 'free review' is probably a scam, don't fall for it @sambrodbeck @RedCircleFP
— Ros Altmann (@rosaltmann) September 22, 2016
Bring it on. Government should stop being so lily livered and stand up to direct marketing vested interests https://t.co/Lbv5fsezkC
— Annie Shaw (@CashQuestions) September 22, 2016
Hat's off to @RedCircleFP for calling this out. Cold-calling / emailing about investments should be illegal. Agree? https://t.co/bNjsIORDw5
— Gareth Thompson (@cssgareth) September 22, 2016
Well done Darren for starting this off! Hopefully all individuals & firms who genuinely care about peoples' pensions will sign & share. https://t.co/AiMsllwy4l
— Gareth James (@SippySlicker) September 21, 2016
Please sign this petition...stop this cold calling menace. .. https://t.co/RJ0jO4hZEy
— Rajesh Modha (@RajeshModha) September 21, 2016
Excellent work @RedCircleFP - I've signed the petition https://t.co/WsMQJrTcFe
— Richard Hulbert (@Hulbert_Money) September 22, 2016
Worried about being scammed by cold callers offering investment or pensions only to lose money? Let's sign & ban 'em https://t.co/J6CSbnnCIX
— Kusal Ariyawansa (@Kusal_CFP) September 22, 2016