Adrian Hakes from Manchester received £50,000 - SIPP
Mr Hakes was advised to transfer his NHS pension into a Self Invested Personal Pension (SIPP), thereby losing all the accrued and future benefits he would have enjoyed under this scheme. Mr Hakes pension monies were then invested into Italian property funds, an investment that later failed.
Goodwin Barrett successfully claimed the maximum compensation of £50,000 from the Financial Services Compensation Scheme (FSCS) for a delighted Mr Hakes.
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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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Having investigated the complaint Lloyds TSB agreed that the advice was unsuitable and agreed to pay the clients £10,700.