Graeme Rowse from Hull received £6,500 - Lloyds
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.
However, Mr Rowse was concerned when he saw the value of his investment falling, particularly as he told the adviser that he couldn’t afford to lose this money as he would be needing this for his future plans. He felt he had no other option but to cash in his investment leaving him with a substantial loss.
We investigated the case and found that he was recommended to invest into a product which was too high in risk.
We reported our findings to Lloyds bank and secured our client £6,500 to cover his losses with interest and compensation included.
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