We have helped many people reclaim mis-sold pensions and investments. These are just some examples below.
Andrew was aged just 18 when he inherited £10,000 from his late grandfather. Sensibly, he approached his bank and asked them for advice for the best place to keep his money as a nest egg for the future. Andrew trusted the bank and invested the whole £10,000 into an ISA and Unit Trust.
Andrew did not want to touch this money for as long as possible so left it for over 7 years before withdrawing a large amount to assist with renovating his home before closing the investments in 2017.Read more
After inheriting some money from his late mother`s estate Mr Thornley decided to take advice from his bank about how to get the best return. He made it clear to the bank that he was not a risk taker and could not afford to lose any money.Read more
Michael Houston worked for McCain Foods who provided him with a Final Salary Pension Scheme. He was visited at his home by an Independent Financial Adviser (IFA) and was persuaded to transfer his company pension into a SIPP with Pointon York.Read more
In January 2007 Mr Parton received some money when he sold his business and retired– he paid the proceeds into his current account. Lloyds TSB suggested he spoke to a financial adviser and he was quite happy to do this. The adviser recommended that Mr Parton invest £150,000 into a Flexible Options Bond and Mr Parton followed his advice which seemed to make sense.Read more
Andrea Gough was advised to transfer several pensions to Clerical Medical, including an occupational pension scheme from a previous employer. Andrea lost all the guaranteed benefits associated with the occupational pension scheme, including a pension for life based on her final salary.Read more
Mr Snowden had recently received a lump sum from a redundancy pay out and had paid the proceeds of this into his bank account. At this time the bank approached him to speak to a financial adviser who recommended that Mr Snowden placed his money into a Stocks and Shares ISA for the medium to long term, as he was planning on using this money help fund his retirement plans.Read more
Mr Hakes was advised to transfer his NHS pension into a Self Invested Personal Pension (SIPP), thereby losing all the accrued and future benefits he would have enjoyed under this scheme.Read more
In January 2006 Mr Miller received some money from his late father’s estate. Lloyds TSB suggested he spoke to a financial adviser and he was quite happy to do this. The adviser recommended that Mr Miller should invest £100,000 into a Flexible Options Bond and Mr Miller followed his advice.Read more
DenisProbert worked for over 35 years for his employer that offered an occupational pension scheme. In 1995, an Allied Dunbar (now Zurich) representative advised him to put extra money into a Free Standing Additional Voluntary Contribution (FSAVC) when he could have paid AVC’s into his existing occupational scheme.Read more
Mrs Long was encouraged to invest the money she held on deposit into a risk-based investment with RBS that lost money. Having assessed her circumstances both personally and financially at the time of the sale, it became apparent that the advice given by RBS may not have been suitable as her attitude to investment risk had not been assessed correctly.Read more
Darren Byworth got in touch with us after seeing our details on the internet. He was advised to transfer his private pension into a SIPP with Greyfriars Asset Management. The pension was then invested into high risk funds leading to significant losses to his retirement fund.Read more
When Mr Rynkiewicz received his pension lump sum from his employer Halifax suggested Mr and Mrs Rynkiewicz speak to a financial adviser about what to do with the money. The adviser recommended that the couple invest £30,000 into Investment Bonds and Investment ISA’s.Read more
Gail Baldwin was advised by Blue Infinitas Ltd to transfer her personal pension with Sun Life of Canada into a SIPP. Most of her money was invested in unregulated products which resulted in significant losses.Read more
Fred had sadly lost his wife and was in the bank when he was approached by the staff to see an adviser due to his substantial balance. He had received a payout from his late wife’s insurance policy and had paid this into his account.Read more
Kelvin Lewis was a member of his employers’ occupational defined benefit pension scheme. He was advised by Black Horse Life to take out a Free Standing Additional Voluntary Contribution (FSAVC) pension.Read more
Mr & Mrs Montague were encouraged to meet with a Lloyds TSB adviser after Mr Montague had been made redundant and Mrs Montague had received an inheritance. They were encouraged to invest their money into ISA’s without having a full analysis of their financial circumstances to establish if the products were the most suitable. They were extremely disappointed when their investments lost over £3,000.Read more
Mrs Fitzpatrick was referred to us by her son-in-law after we were able to help his mother. Mrs Fitzpatrick had a maturing 1 year deposit with Alliance & Leicester and wanted to reinvest her money for a further 12 months. However, rather than act upon her wishes, Mrs Fitzpatrick was referred to a financial adviser who recommended that she invest £24,000 into a Legal & General Distribution Bond for 5 years. This enabled Mrs Fitzpatrick to receive an income every month which would help cover her outgoings so she agreed and signed up straight away.Read more
Ann Cutts lost her husband following a short illness and received funds from his pension scheme.
Understandably, Mrs Cutts was devastated at this time but nevertheless agreed to meet with a financial adviser at Halifax to discuss the best place for her money.
Mrs Cutts had never invested money before so trusted the adviser when he recommended her to invest a substantial amount in a Bonus Bond, which was linked to the Stock Market and therefore carried a significant element of risk.
Even though Mrs Cutts actually made a small gain on this investment she could have received better returns had it been placed in a more appropriate area. We complained to Halifax on behalf of Mrs Cutts and argued that she should not have invested so much money and certainly not at such a distressing time.
Halifax agreed and paid Mrs Cutts £700 within 2 weeks of receiving our claim.Read more
In 1998 Mr Potter wound up his construction business and decided to retire. At this time Royal Bank of Scotland suggested that Mr Potter should invest some £6,000 into a Personal Equity Plan (PEP). The adviser explained to him that PEPs were tax free and Mr Potter thought it was a good idea. However, over the next few years the value of Mr Potter’s PEP fluctuated greatly, seeming to go down much more than going up. He waited for the value to recover and cashed in his PEP which made a small growth of just £176 over 10 years.Read more
In 2006 Mr Booth had re-mortgaged his home through the Cheltenham & Gloucester in order to clear some previous finance and also to raise money for some home improvements he had planned on his property. In December 2006, Lloyds TSB persuaded Mr Booth to sit down with a financial adviser after depositing the funds into his account that he had allocated for his home improvements. The adviser recommended he invest £7,000 into a Stocks and Shares ISA.Read more
Mr Sheppard had recently taken a lump sum from his pension plan and had paid the proceeds of this into his HSBC account. The bank recommended that Mr Sheppard placed his money into a Stocks and Shares ISA for the medium to long term, even though Mr Sheppard had mentioned that he may need access to this money in the near future.Read more
Mrs Soule had been through a difficult period in her life following the loss of her daughter and went to Halifax to ‘put some money away’ for her grandson as her daughter had wished. The bank was only too pleased to help but tied up Mrs Soule’s money for five years in an Investment Bond which had a guarantee at the end of the term if the funds were left in place.Read more
Mr Roden was purchasing his first home in August 1996. He sought mortgage advice from Halifax in order to complete on the purchase. In addition to making his new mortgage payments, Mr Roden was advised by the Halifax to make new regular contributions to an ISA. Mr Roden was happy to act upon this advice.Read more
Steve had been continually contacted by his bank, Lloyds TSB, when a member of its staff noticed that he held a substantial balance in his account. They pressured him to meet with an adviser and discuss investment options.Read more
Mr & Mrs Orsborn were encouraged to meet with a Royal Bank of Scotland adviser because of the large amount of money they had saved in their deposit account. A guaranteed investment bond was recommended for a period of three and a half years along with two equity based ISA’s. At the end of the term they were disappointed to receive only the original investment from the bond and had lost money on the ISA’s.Read more
Mr & Mrs McCann had recently paid the proceeds of the sale of a house into their Halifax account. At this time, they were approached by the bank to speak to a financial adviser and he recommended Mr & Mrs McCann invest £15,000 into a Personal Investment Plan for the medium to long term. Mr & Mrs McCann thought this would be a sensible option as they were approaching retirement and they needed to be financially secure.Read more
Mr Woolliscroft had built up a healthy balance in his savings account over a period of time. He approached his local branch and asked for their help in getting a better return. He had recently retired from work due to ill health and any extra income these savings could produce would be a real benefit.Read more
Mr Sutton contacted us after losing £6,000 in a Coop bank Corporate Bond. He had been told the investment was safe and invested £100,000 but was disappointed to lose so much money when he finally cashed in the policy. He contacted us after reading about us on the internet. We discussed with Mr Sutton what he remembered from his meetings with the bank and looked at the paperwork he provided to us. This all pointed to a typical case of risks not being explained properly.Read more
Alan had been a customer of Northern Rock for many years when he invested with them in 2005. The bank staff had been pressurising him to meet with one of their advisers when they noticed that his balance was substantial following his early retirement. Eventually, he agreed to meet with the adviser and proceeded to take his advice to invest into a Legal & General Bond despite the fact that he had actually earmarked the money to buy a rental property.Read more
Mr Jones had bought single company shares on the recommendation of a stockbroker Wills & Co. The shares contained a high level of risk and subsequently dropped significantly in value.Read more
A representative of Britannic Assurance (now Phoenix Life) advised Mr Bullock to save £100 per month to build up a nest egg for his retirement. The plan began in 1999 and went on for 10 years when Mr Bullock cashed it in getting back £2,000 less than he had actually put into it.Read more
In 1997 Mr Rowse was approached by his bank to talk about his savings and getting a better return. The adviser recommended that Mr Rowse should invest £10,000 into an ISA/Unit trust and Mr Rowse decided to accept this advice.Read more
Mrs Maton-Jenner had invested £20,000 with Barclays bank having received a pension lump sum payment in 2007. After three years the investment had lost £3,000 which came as a big shock to the client, particularly as she had wanted her capital to remain secure without any risk. Mrs Maton-Jenner approached Goodwin Barrett and spoke with Senior Claims Adviser, Steve Wise to explain her situation.Read more
Most people expecting sound financial advice would normally turn to their bank, believing it would have their best interests at heart. Malcolm Nash believed the same when he turned to HSBC for advice about his substantial savings. What he ended up getting was totally inappropriate advice meaning he lost over £8,000 within 12 months.Read more
Donald invested £5000 some years ago with Lloyds TSB. He was not in great health at the time but was encouraged to invest his savings for a term of 5 years. Consequently, Donald lost money on his investment when he subsequently surrendered this a few years later.Read more
Mr and Mrs Caulfield were contacted by their bank in 2007 after Mr Caulfield retired. He had received his retirement lump sum into his account and the branch staff noticed this and suggested an appointment with a financial adviser. Mr and Mrs Caulfield attended this appointment and despite making the adviser aware that they were intending to move house in the very near future, were advised to invest a large sum of money over a period of 5 years.Read more
Mr Gaskell approached Lloyds TSB seven years ago when he had received a sum of money from the sale of his previous property. He had recently gone through stressful times as he had lost his mother, got divorced and had also been made redundant.Read more
In 2002 Catherine’s father had passed away and whilst she was in the bank dealing with his affairs it was suggested by a member of staff that she met with an adviser to discuss investments. She had previously cared for her father and was obviously grieving for him. The adviser suggested she invest a sum of money despite her vulnerable state at that time.Read more
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.Read more
In December 2006 Mrs Fletcher received some money when she had to take early retirement from her job in order to look after her husband who had suffered a stroke. Lloyds TSB encouraged her to speak to a financial adviser when this money was paid into her account, she was happy to do this. The adviser recommended that Mrs Fletcher invested £25,000 into an ISA and OEIC and Mrs Fletcher followed his advice which seemed to make sense.Read more
Mr Smith invested into a Capital Guaranteed Bond but was disappointed when after six years he only got back his original investment and nothing more. He had originally been contacted by Lloyds when the bank noticed he had paid in a cheque following a redundancy payout.Read more
Mr & Mrs Phelps were encouraged to meet with a Co-op adviser because of the large amount of money they held on deposit, the proceeds of a property sale. They were encouraged to invest their money into risk based products. They were extremely disappointed when their investments lost money as it had been their intention to leave it on deposit.Read more
When Mr Willis retired with a lump sum from his employer he turned to an Independent Financial Adviser for advice about how to top up his income in retirement. He made it clear that he could not afford to lose money but understood that there may be highs and lows. The adviser recommended an ISA and Investment Bond. Mr Willis left his money invested for 12 years and when he eventually cashed it in he barely broke even.Read more
Mr Shaw explained to his adviser at NatWest that he did not want to take risks with his money when the bank approached him about investing some of his savings. He was recommended a Guaranteed Investment Bond where the value of the capital cannot dip despite stock market fluctuations.Read more
Mr Horton had built up a healthy balance in his savings account over a period of time. He was approached by his local branch who suggested a meeting with its financial adviser. He was retired from work and receiving a pension and any extra growth on these savings would have been a real benefit.Read more
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.Read more
Mr Sawyer invested some of his savings into an ISA linked to the stock market after taking advice from his bank. He trusted his adviser to give him the best advice for his circumstances but it transpired that he was only told about all the possible benefits of this type of investment with little or no discussion about the true risks involved. He lost £1,200 when he cashed in his ISA.Read more
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.Read more
John and Marilyn were nearing retirement a number of years ago and planning a house move when they approached Lloyds TSB for some investment advice. They were recommended to invest into a combination of ISA’s and Unit Trusts with Scottish Widows.Read more
In 1997 Mr Armstrong approached Lloyds TSB to open a regular savings account. He had wanted to save a regular monthly amount of £30 over a 5 year period so that he could treat his wife to a special holiday when he reached age 65.Read more
*amounts reclaimed for customers are before the deduction of our fees.
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