James McCann from Rochdale got back £3,100 from Halifax
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.
However, Mr & Mrs McCann noticed that their investment was falling in value, which came as a surprise to them as they were not informed that they could lose money on this investment. They felt that they could not afford to lose any more money so decided to cash in their investment.
The couple called our offices to see if we could help. After a thorough investigation we established that it would have been more appropriate to place their money in a no risk investment, especially as they had never taken risk before and the investment was far from “safe” as they were informed.
After sending a report to the Halifax, they agreed with our findings and awarded Mr & Mrs McCann an amount of £3,178 made up from a refund of their losses together with interest and compensation.
Mrs McCann said that she was “very happy with the outcome” and had received a “brilliant service”.
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