Steven Lansdowne from Leicester received £800 - Halifax
In 1996 Mr and Mrs Lansdowne sought investment advice from Halifax bank having accumulated surplus monies in their bank account. They wanted to explore the option for their money to grow in a safe tax efficient fund.
Mr & Mrs Lansdowne met with an adviser at Halifax in Leicester and they explained their requirements and their need for the money to be invested without risk. The adviser suggested ISA Investor Plans into which Mr and Mrs Lansdowne entrusted their savings.
After 5 years the investment barely broke even causing Mr & Mrs Lansdowne to cash in the investments to prevent further losses. Mr & Mrs Lansdowne were left feeling upset and very disappointed with the advice they had received.
Responding to our local newspaper advertisement, the couple asked for our help. We were able to discuss with them details of their circumstances at the time Halifax offered the advice. We subsequently submitted a compensation case to Halifax on the basis that the advice had been wholly unsuitable.
Within 4 weeks Halifax awarded Mr & Mrs Lansdowne £881 to cover their losses, interest and compensation.
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