Susan Lomax from Carnforth received £1,500 - Barclays
Miss Lomax, now a local councillor for Morecambe town council, retired in 2001 after working for Boots for 27 years. She approached the Woolwich to ask for financial advice for the funds she had saved and was recommended to invest £30,000 into a With Profit Bond with AXA. Miss Lomax was happy to leave her money invested for 5 years with the understanding it would be safe.
However, when she requested her money back she was astounded to see that it had fallen in value and she had exposed her investment to risk which she was unaware of. Miss Lomax was extremely disappointed with this outcome but thought she could do nothing about it.
When Miss Lomax learnt of the work we had done for other clients she contacted us and asked for our help. It soon emerged that she was advised to invest far too much money in an area that was unsuitable for her in terms of risk.
After investigating the concerns we put to Barclays, who have since taken over Woolwich, they agreed and paid Miss Lomax the amount of £1590 made up of the losses suffered together with interest and compensation.
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