Mark and Dorothee Bernard from Cowdenbeath got back £4450 from Royal London
In 2000 Mr & Mrs Bernard had saved some money which they wanted to invest for the future. They met with a financial adviser from C I S at their home.
The couple were advised to place £3,000 each into an ISA together with adding £50 each month to build up the investment. The fund recommended was the Euro Growth Trust and Mr & Mrs Bernard left their ISAs in place until 2007. They had both invested £4,000 in total and received £4,867 back.
Mark saw our ad on the internet and contacted us asking if we could help because the investments had not lost any of the capital. We reviewed the advice they were given and determined that the Euro Growth Trust was not suitable for them because it was too risky.
We sent our claim to Royal London, who were responsible for the advice given in the past by C I S, explaining why Mr & Mrs Bernard were advised wrongly. After investigating the case they agreed with our findings and paid the couple £2,225 each to compensate for the unsuitable advice they had received. This amount covered the returns Mark and Dorothee could have received if they had invested in a more suitable fund with less risk.
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