Alan Burke from Bolton got back £34,800 from Santander

Mr Burke was contacted by Santander because of the large amount of money he held in his deposit account. He was persuaded to invest his money into an investment bond with the promise of greater returns than those available in his deposit account. The transaction was completed during one meeting.

After around 18 months Mr Burke was alarmed to discover that the value of his investment had dropped significantly. He became so concerned that he surrendered the investment incurring substantial losses. He thought this money was lost until contacting us and talking to one of our claims advisers. We were able to obtain Mr Burkes policy information despite him having no information at all.

It became apparent that our clients financial and personal circumstances had not been assessed correctly when the recommendation was made. This had resulted in unsuitable advice being given to invest into a risk based product. A detailed report was submitted to Santander highlighting the concerns identified. Following a thorough investigation the bank agreed to uphold the complaint and paid £34,800 to a delighted Mr Burke.

Learn more about Santander investment Mis-selling