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Neil Stevenson from Blackburn received £12,000 - L & G

Neil Stevenson

After being made redundant Mr Stevenson got a cheque which he duly deposited into his Yorkshire Building Society account.

Mr Stevenson simply wanted his money to work harder for him so he asked for some advice at his local branch. The financial adviser from Legal and General recommended he put away £47,000 into a property fund. Some years later with the fund value falling Mr Stevenson felt he had no choice but to cash in the plan. He asked us to look at his case for a possible mis-sale.

We found that the adviser had invested too high a proportion of the client`s savings leaving little behind for emergencies and no advice was given about paying off his mortgage with his money instead of investing it. Discussions around risk were limited to generic statements about the highs and lows of the stock market.

We submitted our claim to Legal and General who came back with an offer to refund all losses along with interest and compensation. The total reclaimed for Mr Stevenson was £12,100.

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