"We understand from your IFA that our letters to you requesting the forms be returned caused distress as you felt pressured to make a decision. We are very sorry to learn of this; whilst we send further letters in this instance to ensure there is no undue delay to the processing of the estate, we have raised your experience as feedback with the relevant senior managers,” the firm added.
Once both forms were completed and returned, Hargreaves Lansdown admitted it had not sent out a beneficiary drawdown application which was the next part of the process.
It said: “We appreciate the confusion and additional distress asking for the questionnaire again has caused you.”
The firm confirmed a beneficiary drawdown application has now been sent to the adviser with Hargreaves Lansdown making an "exception" in this case and allowing the application to be emailed back to it.
It has sincerely apologised for the delay and has offered the client £500 compensation.
A spokesperson for Hargreaves Lansdown said: “We apologise for the delays [the client] has experienced and the distress caused and in recognition of this have offered compensation by way of an apology.”
alina.khan@ft.com
