Frank Challoner from Liverpool received £3,000 - Lloyds
Frank had been made redundant from his job back in 1998 and had received his redundancy payment into his Lloyds account. He was encouraged by a staff member to see a financial adviser and discuss investment options.
Frank was then recommend to make an investment despite being out of work at the time and living on a much reduced income. He was also suffering from poor health and his future employment prospects were uncertain.
When he subsequently surrendered his investment he found he had lost money.
Frank saw an advert for Goodwin Barrett and contacted us for advice. After a lengthy discussion about his circumstances it was clear that Frank had received inappropriate advice. A complaint was submitted to Lloyds and it investigated the points raised.
After consideration, Lloyds agreed with the points raised and Frank was awarded £3060.
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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.