Omicron 3 Month Investment Company Delays
Published / Last Updated on 10/01/2022
The recent surge in Omicron cases across the UK and resultant staff sickness as well as family member/friends isolating is not only having a dramatic impact on staff shortages for the NHS, other emergency services and transportation, it is also impacting on financial services.
The government has estimated up to 25% of the workforce may currently be unable to work or not working at full capacity.
Financial services is being hit as much as any other sector.
Our firm has full capacity currently with all staff able to work but many larger groups are not fairing as well. We have experienced the following delays when dealing with pensions and investment companies:
- 1 hour average wait time for our phone calls to be answered
- Some providers have quoted us 30 to 40 working day backlogs in just looking at our requests or information. That’s 6-8 weeks.
- Some providers have quoted us 15 to 20 working days to process an application form. That’s another 3 – 4 weeks.
We are suggesting you should be prepared for backlogs and delays of up to 3 months.
Please do not ‘shoot the messenger’, we are chasing providers everyday for out standing works or information for clients.
