Karen Elsworth from Leeds got back £2,980 from Halifax

Karen’s late mother lost her husband in 1996 and received a lump sum. An appointment was arranged with a financial adviser from Halifax to discuss the options she had with this money.

She was advised to invest a total of £6,000 into an Investment Bond and kept her investment in place for over 20 years. When it was cashed in the value had grown to £15,247.

Karen contacted Goodwin Barrett after seeing our online ad and asked if we could help as she knew her mother had invested but was unsure of the details. We wrote to Halifax and obtained the investment information and looked into the advice she was given. We found that she was classified as a ‘medium’ risk investor rather than the correct level of ‘low’ risk which would have been more suitable for an inexperienced investor.

We sent our claim to Halifax explaining that Karen’s mother was incorrectly advised to take this higher level of risk.

Halifax investigated the advice they had given in 1996 and agreed with our findings paying out £2,980 in compensation.