Customer Video Testimonials
We have helped many people reclaim money lost on mis-sold investments and pensions. Watch some of our video testimonials below.
Susan Marsh from Merseyside received £11,411 – 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.
Dr Jasmine Murray from Reading received £13,590 – 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 Riley from Rotherham received £14,286 – 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.
Matthew Tonge from St Helens received £4,500 – 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.
Alan Melville from Kirkcaldy received £1,569 – 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 received £1960 - 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.
Raymond Nicholls from Sunderland received £4,627 – 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.
Kevin Heather from Essex received £3,489 - 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.
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 received £1,286 – 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 received £1270 - 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 received £700 - 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.
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