Customer Video Testimonials
We have helped many people reclaim money lost on mis-sold investments and pensions. Watch some of our video testimonials below.
Amounts reclaimed for customers are before the deduction of our fee.
Susan Marsh from Merseyside got back £11,411 from Barclays
Susan went through a difficult time in the late 90s as she had to retire from her job on health grounds and then suffered the loss of her mother. Susan sold her mother’s home and staff at her local Barclays encouraged her to speak with a financial adviser when she received the sale proceeds.
She was advised to invest a lump sum of £20,000 into an ISA and a unit trust with Legal & General. When her investments came to an end she received back just over £16,500 resulting in a loss of around £3,500 on money which was very important to her. This was a very distressing experience for Susan.
We sent our claim to Barclays stating that it was wrong to recommend Susan should invest in the risky Growth Portfolio Trust. She was no longer working and would need access to her money making her investments totally unsuitable.
Barclays investigated the advice they had given to Susan nearly 20 years previously and agreed that it was not suitable for her at that time. We directed Barclays to calculate the position she would have been in if she had been given the correct advice and to add interest on top. As a result of our work Susan was delighted when Barclays offered her £11,411.
Jennifer Penlington from Elgin got back £677 from Halifax
Jennifer worked hard and had always saved, building up a lump sum in her savings account. Halifax invited her to meet with one of their financial advisers to discuss the various options she might have to make better returns than deposit accounts offered. Jennifer thought this made sense and agreed. She was advised to invest into a range of investments, all of which were Halifax products. She invested a total of £18,000 into a Stocks and Shares ISA, an Investment Bond and a Guaranteed Investment Plan. Jennifer heard our radio advert and got in touch as she was unsure whether she had received the most suitable advice.
We discussed Jennifer’s personal and financial circumstances when she invested and believed that she had been wrongly advised. We felt the Guaranteed Investment Plan was a suitable investment for her because she would receive her capital back if she was able to keep it in place for 5 years. However, we believed that the other products recommended to her meant she was taking too much risk and investing too much of her money. Even though both these investments actually grew in value we calculated that Jennifer would have made more money had she taken less risk.
We contacted Halifax and explained why we felt Jennifer was advised wrongly. Halifax agreed with our claim and said she should have taken less risk with her ISA and Bond. Halifax agreed to pay Jennifer £677 in compensation.
Dr Jasmine Murray from Reading got back £13,590 from Santander
Dr Murray and her husband had downsized their home and had money left over after buying their new house. They spoke with a financial adviser at Abbey National about the best options they had for their funds.
The couple had never invested money previously but were advised to put a lump sum into a complicated ‘Inscape’ portfolio. This contained shares from all around the world and would use ISA allowances each year.
We sent our claim to Santander arguing that Dr Murray and her husband should not have been advised to invest into the portfolio as they were taking too much risk, particularly as they were first time investors. It was also clear they were told to invest too much of their money.
After investigating our claim Santander agreed. They refunded Dr Murray the £6,000 that was lost and on top of this calculated what she could have earned had the money been left on deposit. This amount with additional interest resulted in a payment to Dr Murray totalling £13,590.
James Edgar from Glasgow got back £12,000 from Halifax
Mr Edgar had saved a lump sum which he held in a deposit account. He was encouraged to see a financial adviser from Halifax to discuss the best place to hold this money.
Mr Edgar had never invested before and was worried about taking risks with his money and investing in Stocks and Shares. Despite this he was advised to invest £25,000 into a Guaranteed Investment Plan as, although it invested in Stocks and Shares, it guaranteed the return of his £25,000 at the end of a 5 year term if the Stock Market fell. After waiting patiently for 5 years the value of his maturing investment was just £25,247.92 – not even making 1%. This was due to the financial crisis and credit crunch which occurred in 2008 – right in the middle of Mr Edgar’s investment.
We sent our claim to Halifax explaining that Mr Edgar should not have been advised to invest this much money into a product which could have earned nothing after 5 years, particularly as a first time investor. We directed Halifax to pay Mr Edgar what he could have earned if he kept his money in cash and add interest to this from when the investment matured in 2010.
Halifax investigated this claim and agreed with Goodwin Barrett. Even though Mr Edgar made a small gain of less than £250 our claim resulted in a payment to him of £12,059.
Russell McGrath from Colwyn Bay got back £2600 from Halifax
In May 2008 Russell had managed to accumulate a lump sum from his work in the Emergency Services by saving regularly from his salary. He agreed to meet with a financial adviser to discuss the various options he had for these savings.
Russell was advised to invest a lump sum of £7,200 which was the maximum that could be placed into a Stocks and Shares ISA at the time. Despite having no investment experience he was recommended to invest this significant amount the first time he met with the adviser, without being able to take time to think about the fact he was taking risks with the money he had carefully built up over a period of time. By the time he had time to reflect on his decision just 9 months later he had lost nearly £1,750.
After hearing our radio advert Russell contacted Goodwin Barrett and we discovered he had been advised to invest into funds which were much too high in risk for someone having never invested before – particularly having been encouraged to sign up straight away. We sent our claim to Halifax explaining that Russell should not have been advised to take this level of risk with his savings.
Halifax investigated the advice they had given to Russell over 10 years previously and agreed that it was not suitable for him at that time. They refunded the money he lost and paid him what he may have got had the advice been correct. In addition interest was added for the time he was without access to his money which resulted in a payment to Russell of £2,633.
Louise Cole from Surrey got back £1500 from Halifax
In December 2006 Louise had recently given birth and was not working as she was looking after her family. Louise had built up some savings and wanted her money to be in the best place to provide for the family in future. As such, she agreed to meet a financial adviser from Halifax to discuss her options.
She was advised to invest a lump sum of £7,000 which was the maximum that could be placed into a Stocks and Shares ISA. When she transferred the ISA less than 3 years later the value was only £6,684 meaning she had lost almost 5% of her money. Clearly, the plans she had made would not happen if she continued to lose money at this rate.
Louise asked Goodwin Barrett for our help and when we investigated her case we discovered she had been advised to invest into funds which were much too risky for someone in her situation. We sent our claim to Halifax explaining that Louise should not have been advised to take this level of risk with her savings.
Halifax looked into the advice given to Louise and agreed that it was not suitable for her at that time. We asked Halifax to refund the money lost and calculate what returns could have been achieved if Louise had invested in a more appropriate area. This resulted in a pay out of £1,557.
Kevin Heather from Essex got back £3,489 from Lloyds
After inheriting some money from a member of his family Kevin decided to take advice from his bank about investing it wisely.
Kevin had no previous experience of investing into stocks and shares and had limited savings at the time. He also had an outstanding mortgage. Despite this he was advised to invest £5,000 into a risky Stocks and Shares ISA by his financial adviser at Lloyds bank. He lost £550 when he cashed it in.
We made a claim on behalf of Kevin for a mis-sold investment and got him back £3,489 within a matter of weeks.
Raymond Nicholls from Sunderland got back £4,627 from Santander
Raymond Nicholls met with a financial adviser at Abbey National after he was made redundant in 1993. He wanted to ensure his money was in the best place after such a big change in his life.
He had never invested money previously but was advised to put a regular amount of £50 per month into a 10 year savings plan. After investing this amount for 10 years he had paid a total of £6,000 into the plan. However, because the money was invested in stocks and shares the amount he got back was just £5739.98, actually losing over £270 after a decade.
We sent our claim to Santander explaining that Mr Nicholls should not have been advised to take this risk with his savings, particularly as he was a first time investor.
Santander investigated the advice Mr Nicholls had received and agreed that it was not suitable for him at the time. We asked Santander to refund the money lost and calculate what returns could have been achieved if he had invested his money more appropriately. With interest on top the payment made was £4,627 leaving a delighted client with over £2,400 after settling our fee.
Matthew Tonge from St Helens got back £4,500 from RBS
Mr Tonge inherited a property after the passing of his step-father. He renovated the property before selling it and was encouraged to speak with a financial adviser when the sale proceeds were received.
Matthew had never invested money before but was advised to invest into a bond which was linked to the performance of the stock market. He was satisfied as this investment would guarantee the return of his capital at the end of a 5 year term.
However, Matthew required the money he had invested after less than 12 months as he had always planned to buy other properties to renovate and sell at a profit. When he cashed in his investment he had lost £2,300.
We sent our claim to RBS pointing out that Mr Tonge should not have been advised to invest into the bond as it was clear that he would not be able to invest for the 5 year term. The financial adviser did not take into account what Matthew wanted to do with his money.
After investigating our claim RBS agreed and paid Mr Tonge £4,500.
James Riley from Rotherham got back £14,286 from Royal London
Mr Riley had taken early retirement and received a lump sum which he was happy to leave in a savings account. He was encouraged to see a financial adviser from CIS to discuss his finances and they met at Mr Riley’s home.
Mr Riley and his wife had never invested money before but were advised to invest a total of £20,000 into a Stocks and Shares ISA and Unit Trusts within the UK Growth Fund. After only 3 ½ years the value of the investment had fallen significantly and when cashed in the couple lost almost £6,000.
We sent our claim to Royal London explaining that Mr & Mrs Riley should not have been advised to invest their money as he was retired and therefore taking risk with their money was wrong.
Royal London investigated this claim and agreed with Goodwin Barrett. This resulted in a payment to Mr & Mrs Riley of £14,286.
Alan Melville from Kirkcaldy got back £1,569 from Halifax
Alan received a lump sum after being made redundant in 2008 and soon after the money was put into Halifax he was encouraged to speak with a financial adviser. Alan thought this was a sensible thing to do and arranged an appointment at his local Halifax branch.
He was advised to invest a significant amount of £20,000 into an ISA and a Collective Investment Plan and agreed. After 2 years he decided to close his investment and after taking into account withdrawals he had previously made and some income he received he had lost over £700 from his original lump sum.
We wrote a report and sent the claim to Halifax arguing that it was wrong to recommend Alan to invest in the UK Equity Fund as it contained too much risk for someone who had never invested before. We also added that Alan was talked into making the investment without giving him enough time to consider what he really wanted to do with his money.
Halifax looked into the advice they had given to Alan over 10 years earlier and agreed that it was not suitable for him at that time. We requested that Halifax refund any money Alan had lost and also pay him what he could have earned had he left his money where it was with interest on top. This resulted in Alan receiving a payment of £1,569.
Keith Alderman from Bracknell got back £1960 from HSBC
Mr Alderman received an inheritance following the death of his father and met with a financial adviser at HSBC. Mr Alderman had plans for most of his money but the adviser encouraged him to invest into a Stocks and Shares ISA.
Mr Alderman had never invested money before so trusted the adviser when he recommended him to invest into the British Trust Fund which was linked to the Stock Market and therefore risky.
We sent our claim report to HSBC highlighting how the advice was too risky for an inexperienced investor and within weeks secured a payout of £1960.
Alan Bamford from Nottingham got back over £600 for a mis sold FSAVC
Alan Bamford was a member of his employers occupation defined benefit pension scheme for many years.
He was mis-sold a Free Standing Additional Voluntary Contributions (FSAVC) pension by Midland Life. The adviser did not take into account the benefits of a similar scheme available to Mr Bamford from his employer that would have provided enhanced benefits to him on retirement.
As a result of our claim Mr Bamford was awarded £600 compensation.
Sylvia Allison from Sleaford got back £1,286 from Royal London
In 1999 Sylvia was introduced to a financial adviser when she was aged 22. Sylvia, sensibly, wanted to save for the future and thought it was a good idea to discuss this with a professional.
She was advised to invest a lump sum of £1,000 and to top this up with £50 per month from her earnings as a nursery nurse. Sylvia struggled to afford this but managed to keep this arrangement in place for nearly 4 years and put away a total of £2,300. However, because the money was invested in a Stocks and Shares ISA the amount she got back was just £2,121 resulting in her losing almost £180 across this time.
We sent our claim to Royal London explaining that Sylvia should not have been advised to take this risk with her savings as she was committing money which she could not afford into the risky UK Growth Fund.
Royal London looked into the advice given to Sylvia and agreed that it was not suitable for her at that time. We asked Royal London to refund the money lost and calculate what returns could have been achieved if Sylvia had kept her money in a no risk savings account. This resulted in a pay out of £1,286.
Richard Dobbs from Newport got back £1270 from Halifax
Richard Dobbs had a young family and wanted to start saving to build a deposit for their first home. He met with a financial adviser at Halifax to discuss the best way to do this.
Mr Dobbs had never invested money before so trusted the adviser when he recommended him to invest a significant monthly amount into a Stocks and Shares ISA.
Any investment linked to the Stock Market should be seen as a medium to long term investment lasting at least 5 years. We sent our claim to Halifax bank pointing out that Mr Dobbs should not have been advised to invest into this ISA. It should have been obvious that he would need access to the funds and in any case the product was too risky for a first time invester.
Halifax agreed and paid Mr Dobbs £1,270 within days of receiving our claim.
Ann Cutts from South Yorkshire got back £700 from Halifax
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.
Andrew Mathews from Bournemouth got back £2,000 from Lloyds
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. Andrew felt that perhaps he wasn’t advised in the best way and contacted Goodwin Barrett after hearing our advertisement on the radio.
We looked into Andrew’s investments and discovered that the £10,000 he invested in 2000 returned him over £13,000 when he cashed it in. However, Goodwin Barrett calculated that Andrew would have been better off if he had been given more suitable advice.
We wrote a report and sent the claim to Lloyds arguing that it was wrong to recommend Andrew to invest in high risk funds such as the European and Pacific Growth Funds as they contained too much risk for someone who had never invested before, particularly an 18 year old student.
Lloyds bank investigated and agreed that it was not suitable for him at that time. Even though Andrew got back over £3,000 more than he originally invested, we told Lloyds to pay him what he could have earned in a more suitable investment with interest on top. This resulted in Andrew receiving a payment of £2,000.
Ken Lewis from Cheshire got back £1300 from Clerical Medical/Sesame
In March 2002 Ken had accumulated a lump sum and had agreed with a friend’s suggestion to meet with an Independent Financial Adviser to discuss the various options he had for these funds.
Ken was advised to invest a lump sum of £10,000 into an Investment Bond with Clerical Medical. Because Independent Financial Advisers can recommend investments from any provider, he was happy to agree to this, convinced the adviser would have done thorough research before giving any advice to him. Due to unforeseen circumstances Ken had to access his investment about 2 ½ years later and received back the amount of £10,575, making a small gain on his initial investment. This would have been more but for a penalty he had to pay on encashment.
Ken spoke to Goodwin Barrett and discussed his personal and financial circumstances when he invested. It was clear that the adviser had recommended Ken to invest too much of his money, requiring the investment to be surrendered early and paying a costly penalty for doing so. Goodwin Barrett compiled a Letter of Claim and sent it to Sesame, the IFA network which represented the adviser. We told them we believed Ken invested too much of his money and also took unnecessary risks.
Sesame agreed and paid Ken £1,315 even though he had made a gain on his investment. This covered what Ken could have earned had he not invested, together with interest going back to when the investment finished in 2004.
Adrian Leman from Maidstone got back £860 from Barclays
In 1999 Adrian was not working as he was looking after his family at home. He had built up a lump sum in his account at Woolwich and was persuaded to meet with a Financial Adviser to discuss the various options he might have for his money.
Adrian was advised to invest into a With Profit Bond with Prudential as this could provide him with a monthly income. This seemed a good idea as he was not working and wanted to invest £30,000. The Woolwich adviser talked him into investing a further £2,000 taking the amount to £32,000. A couple of years later in 2001 he met with the adviser again who suggested he added to his bond. Adrian felt he could commit to a further £8,000 but was once again encouraged to increase the amount to £12,000. By the time Adrian closed the investment in 2005 he had got back over £49,000 taking into account the income that was paid out to him. Adrian heard Goodwin Barrett’s ad on the radio and contacted us to see if we could help even though it seemed he had a reasonable return.
We discussed Adrian’s personal and financial circumstances when he invested and believed that he had been wrongly advised. Although the Prudential With Profit Bond was a low risk investment which was suitable for first time investors it was clear that the adviser had recommended Adrian to invest too much of his money. This was particularly the case because he wasn’t working at the time and he should have kept more money outside the investment in case he needed to access cash.
We contacted Barclays, who bought Woolwich and are responsible for their advice, and explained why we felt Adrian was advised wrongly. Barclays agreed and admitted Adrian should have invested half the amount he did on both occasions. As such Barclays agreed to pay Adrian £890 calculated in accordance with the regulatory guidelines.
Terace Walkling from London got back £4660 from NatWest
In 1998 Terace’s father died and left her with a small inheritance. She put this money into her NatWest account and she was then invited to speak with a Financial Adviser to discuss what she could potentially do with it.
Terace was advised to invest a lump sum of £6,000 into an ISA in the Safeguard Trust. She didn’t want to touch this money and left it in place for over 10 years. She eventually surrendered the investment in 2010 when the value had grown to £7,091.
Terace listened to our advertisement on the radio and decided to get in touch with Goodwin Barrett about the investment she had previously held. We discussed Terace’s personal and financial circumstances when she invested and believed that Terace had been wrongly advised.
Although the Safeguard Trust was a low risk investment which was suitable for first time investors it was clear that the adviser had recommended Terace to invest too much of her money. In addition to this she was still grieving over the loss of her father and in an emotionally vulnerable state. It is sensible to make recommendations to potential investors only when they have overcome significant and traumatic events and Terace was advised to invest too soon after her loss.
Goodwin Barrett wrote a Letter of Claim to NatWest making the above points. Even though the investment grew by over £1,000 we requested that NatWest should calculate what Terace could have received if she had not invested into her ISA and pay interest from the time the ISA was surrendered.
NatWest agreed they had given unsuitable advice to Terace and paid her a total of £4,663 in line with Goodwin Barrett’s instructions.
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