In Reply to: Re: Ombudsman's enquiry into FSA re Equitable Life posted by GrumpyGuts on 02 July 2003 at 10:10:06:
: : I was aware of Equitable's policy in this regard - one reason why I have used them in the past for investment quite separate from the IBM pension scheme. But I agree not all customers would have done.:
: Bob - were you really aware that "because of their policy of not holding back SUBSTANTIAL free reserves" excessive bonuses were given, and what the repercussions of this policy might be? I think most people thought the better bonuses from EL came about because they were a "mutual, gave no commission, and were better fund managers - not that they held lower reserves.
: I honestly believe that you might be in a minority as most people that EL were cautious and prudent.
: GG
How "aware" do you think IBM Pensions Trust was when they decided to invest our money with Equitable Life and what comeback might they have on EL, or us on the Pensions Trust??