Hilary Maton-Jenner from Merseyside got back £6,400 from Barclays
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.
It became apparent that Mrs Maton-Jenner’s situation had not been analysed correctly and flaws in the advice were quickly identified. There was an endowment mortgage outstanding at the time that the adviser failed to recommend be paid off even though it was projecting a shortfall. The charges specific to this type of investment were not explained and the client was not left with sufficient money on deposit in case of emergencies. In addition to this Mrs Maton-Jenner was asked to proceed with the investment immediately without any time to consider the advice.
A detailed report was submitted to Barclays who agreed that they had failed to deliver the quality of advice the client deserved and agreed to make a payment of £6491.
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