Alan Cotton from Manchester received £15,000 - L & G
Alan had been a customer of Northern Rock for many years when he invested with them in 2005. The bank staff had been pressurising him to meet with one of their advisers when they noticed that his balance was substantial following his early retirement. Eventually, he agreed to meet with the adviser and proceeded to take his advice to invest into a Legal & General Bond despite the fact that he had actually earmarked the money to buy a rental property.
After a couple of years, Alan noticed that the value of his investment had dropped by over £2000 and as he could not afford to see it drop further, decided to surrender the investment and suffer the loss.
Alan saw an advert for Goodwin Barrett and decided to give us a call as he felt disappointed with the investment performance and the advice he was given. When we looked into his case we realised flaws and inconsistencies in the advice he had been given.
After receiving details of our claim Legal & General paid out over £15,000 in compensation.
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After sending a report to Santander, they agreed with our findings and awarded Mr Snowden an amount of £7,000 made up from a refund of the losses together with interest and compensation.
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We reported our findings to Halifax and within a matter of weeks had secured our client the sum of £26,700 in compensation.
After we sent a detailed complaint to Halifax, Fred was delighted to receive £6,916 from the bank in a matter of weeks.
Having investigated the complaint Lloyds TSB agreed that the advice was unsuitable and agreed to pay the clients £10,700.