Scottish Friendly

Business Details

Trusted Financial Advisers in Glasgow

Established in 1862, Scottish Friendly has built a legacy of providing accessible, member-focused financial solutions. As a mutual organisation owned by our members, we prioritise customer interests over shareholder profits, offering a range of investment products including Stocks & Shares ISAs, Junior ISAs, and Over 50s Life Insurance. Our With-Profits funds combine investment growth with ProfitShare, a mechanism that returns a portion of our profits to eligible members. With 4.2 billion in assets under management and over 853,000 members, we maintain a commitment to financial education through free guides and user-friendly digital platforms.

Our Glasgow-based team operates with transparency, offering competitive charging structures that reward long-term investment. As a socially responsible mutual, we balance financial performance with community engagement and environmental sustainability initiatives.

Services

Investment ISAs Junior ISAs Over 50s Life Insurance With-Profits Funds Financial Planning

Highlights and features

160 years of experience in mutual financial services
Member-owned structure prioritising customer benefits over shareholder profits
ProfitShare mechanism returning 4.5m to members in 2024
Comprehensive financial education resources and guides
Transparent charging structure rewarding long-term investments

Associations and certifications

Financial Conduct Authority
Prudential Regulation Authority
Association of British Insurers
Association of Financial Mutuals

Website

Update Listing

Services

Investment ISAs

Our Investment ISAs enable tax-efficient wealth growth through diversified stock market investments. Designed for both novice and experienced investors, these accounts offer access to Unit Linked and With-Profits funds with flexible management options. The tiered charging structure rewards larger investments while maintaining accessibility for smaller savers.

Junior ISAs

Junior ISAs provide long-term investment solutions for children's futures, with funds maturing at age 18. These accounts combine growth potential with protective features, including restricted access until maturity and special charge reductions for extended investment periods.

With-Profits Funds

With-Profits funds blend capital protection with growth potential through regular and final bonuses. Our unique ProfitShare mechanism distributes annual profits to eligible members while maintaining investment stability through smoothed returns.

Over 50s Life Insurance

This life insurance product provides financial security for loved ones, paying out a cash sum upon the policyholder's death. Designed for older customers, it offers guaranteed acceptance without medical underwriting requirements.

Financial Planning

We offer comprehensive financial planning resources including investment guides, digital management tools, and personalised support. Our educational materials cover ISA basics, investment strategies, and long-term financial planning considerations for families.

Questions

What investment products does Scottish Friendly offer?

We provide Stocks & Shares ISAs, Junior ISAs, Over 50s Life Insurance, and With-Profits funds designed for both beginner and experienced investors.

How does ProfitShare benefit members?

ProfitShare enhances investment returns by distributing £4.5m in 2024 profits to eligible members through regular and final bonuses on With-Profits policies.

Are investments with Scottish Friendly protected?

As FCA-regulated mutual, our investments benefit from Financial Services Compensation Scheme protection subject to eligibility criteria.

How are charges calculated for investment funds?

Charges reduce progressively with investment size, starting at 1.5% annually for investments under £5,000, decreasing to 0.5% for amounts over £20,000.

Can I access my investments before maturity?

Junior ISA funds remain locked until age 18, while other investments may incur exit fees within initial periods as specified in terms.

What makes Scottish Friendly different from other providers?

As a member-owned mutual since 1862, we reinvest profits back into member benefits rather than distributing them to external shareholders.

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Reviews (6)

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Adam Reed

Jan 16, 2022 Report

Bad experience with this company. don't be fooled by any rewards they will not be honoured and rhe financial performance of investments are poor. All my queries went ignored, I had no option but to move my investment elsewhere

Neil Harrison

Jan 13, 2022 Report

Called chasing my daughters policy payout which matured on the 1st October 2021. We sent the original form by post. After not hearing anything by December i called again and was told to email it because it hadn't been received. I emailed it on 23rd December at 9.30am and got a standard email receipt saying it would be dealt with in 10 working days. My daughter received a letter dated 13th January saying that they still haven't received the completed form for payout. I called this morning and despite it saying i may have to wait for as long as 20 minutes it was answered after 30 minutes of Take

Ashanti Payne

Dec 27, 2021 Report

DO NOT SIGN UP!! Avoid the same disappointment I have experienced.
1 hour waiting time, only to face the same issues, both the app and card is pointless if no one can't fix the problem. Will be deleting and taking my money elsewhere.

Sallmeen Audhali

Dec 22, 2021 Report

Complete waste of your time, 1 hr to get contacted by phone and asked for some forms 2 months ago still not received them. Its one company u need to avoid. Trust me

Louis McCracken

Nov 13, 2021 Report

Absolute joke no response to message requst and phone number says line busy yet I see replies to negative reviews? What's going on?
Edit: Finally manged to get through on the phone where the woman who answered was very helpful

Olli Moo

Nov 12, 2021 Report

I thought I was losing my mind dealing with this lot, ive had too many poor experiences to share, so it gives me a shred of comfort knowing im not alone. How theyre still able to trade/operate is the real head scratcher.Reading other peoples reviews below, its clear there is something faulty with this company.Gone to the Ombudsman and hopefully get some sort of reply.
* 15/11/21- Replied to customer support as advised 4 days ago...and surprise surprise...no response!!