Phoenix, the pensions group which owns Axa, SunLife and Abbey Life, have released some worrying information that says more of its customers have reported approaches from unregulated companies after obtaining personal details about their pensions.

Around 10% of the 2,000 customers surveyed admitted to have passing on information such as a National Insurance number, with 20% sharing their passport number to potential scammers.

Cold calling continues to be a real concern with fraudsters conjuring ever-more-cunning schemes to hook an unwitting victim – ‘information is power’ to the crooks who conned £432.4m from the British public in 2016.

The head of Phoenix’s financial crime prevention team, David Powers, said; “The link between cold contacting and scams is very real, and fraudsters will mine the data that they collect from seemingly harmless calls, social media profiles or emails and text messages to scam their victims at a later date. Every piece of data – however big or small – allows the fraudster to build a more complete and accurate profile of their potential victim to make any approach feel genuine.”

Here at The Financial Planning Group we are proud of our reputation of providing independent financial advice and solutions to individuals, families, companies, trustees, accountants and solicitors. We are fee based and unbiased, working with our clients to realise their financial goals by placing their financial affairs in context with their future goals and aspirations.

We provide a simple, structured, disciplined and reviewable planning service. We will change the fundamental relationship people have with their money to give them confidence and clarity in their own future.

If you would like to arrange a pension or investment consultation, please call Tim Norris or Alan Clifton on 0800 731 7614 and we would be delighted to arrange a meeting at our offices in the heart of Teddington.

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