Customer panic over what Scottish independence could mean for their money has caused a spike in inquiries to financial advisers and companies
Financial firms are reporting a surge in inquiries from customers alarmed about the consequences of a “yes” vote in Scotland’s referendum. Banks, building societies, insurers, fund managers and financial advisers all say call volumes are up – in some cases by huge multiples. Common questions include the future of Isa tax status for Scottish residents, the potential risks posed to savings and other investments in Scotland, and whether or not to move money south of the border. In most cases staff admit they are unable to help.Nationwide Building Society, which took over Dunfermline Building Society in 2009 and has only just fully completed the integration of the two businesses, said customers were asking “whether the branches would remain in Scotland and whether accounts would change in any way.”....Read more here