I am getting really p*ssed off with Natwest.

A number of my clients who bank with them are getting visits from their 
Natwest managers, and if they are sole trader/partnerships are being 
given the hard sell by the bank that they SHOULD be limited companies 
and "...come and talk to this accountant I know who will sort it out for 
you...."

Of course clients get recommendations all the time - that is where most 
of the work comes from, but something is different here - the bank are 
proactively pushing it.

The objections I have are: -

1.The bank know nothing about tax/accounting and are giving over 
simplistic and frankly duff advice to clients who really for one reason 
or another should not incorporate.  It is one step up from the 
man-down-the-pub tax advice.

2. As it is the bank manager giving this advice, with backup from a soft 
accountant, then in the client's eyes they must be right.  I then have 
to spend time reaffirming my advice to the client - if they have not 
already left.

3. The ulterior motive is clearly to get the client an 'on side' 
accountant who will then allow them a free run to sell their insurance 
and pension products.  This together with the upheaval of a new business 
structure gives the bank a very good opportunity to sell.


This is a pattern that has come to my attention from clients based in 
completely different areas who deal with different branches and so seems 
to be a scripted approach that they are being told to use.

Has anyone else noticed this?

-- 
Jon Griffey FCCA CTA
Hackett Griffey
Chartered Certified Accountants & Registered Auditors
2 Mill Road, Haverhill, Suffolk, CB9 8BD

Tel (01440) 762024

www.hackettgriffey.com

See website for disclaimers