Comment: The fundamental change in the structure of bank branches from service to sales outlets, has resulted in customers feeling under severe pressure to buy extra products from their banks while face to face service hardly exists, while they force us into using their online, telephone or automated services.
Banks are trying to make their profits through selling extra products, which explains why branches are now sales outlets. I have encountered numerous complaints from customers who have been pressurized by bank staff into buying a product. In addition some banks are making it difficult for customers to move their funds from one institution to another.
I would recommend that anybody who has found themselves in the situations mentioned above, that you forcefully tell your bank to stop making approaches to you and not to tolerate any disruption of the banking service you receive, if obstacles are placed in your way.
Question: I have a personal pension plan which I do not make any further contributions to. I have never changed how it is invested since it commenced 15 years ago. I am wondering should I look at making some changes and if so what are my options?
Answer: All too often people never review how their Personal Pension Plans are invested. They have a tendency to just allow it to continue up until retirement age without ever making alterations.
As the financial world is constantly changing, it is fatal not to keep your plan under review and thereby look at the constantly changing new investment options which are available from time to time.