Mis-Sold Unit Trust
Unit Trusts have been a popular type of investment for well over 50 years. They allow a group of investors to pool their money together, giving them access to a much broader range of investments such as securities and property. Unit Trusts – which should be invested for more than five years – can be affected by external factors, such as the banking crisis, and many customers have lost a large percentage of their money as a result.
Unit Trusts are one type of investment that is recommended by financial advisers to their clients, but they can be very volatile, and if you weren’t made fully aware of the risks from the outset, then you might have been a victim of Unit Trust mis-selling.
Have you been mis-sold a Unit Trust?
The issue is not whether you’ve lost a lot of money or not – that’s the risk with any investment – but rather that you may not have been informed about the potential for losses before you signed on the dotted line.
What’s more, Unit Trusts incur initial fees and ongoing management charges which can significantly impact the performance of a fund. These fees have at times resulted in 6% immediately being taken from an investor’s capital – and you might not have been informed.
You may have been mis-sold a Unit Trust if, at the time of purchasing, any of the following are true:
- You did not understand how a Unit Trust investment worked
- You are risk averse
- Your investment is performing well below what was expected/predicted
- You were advised that a return on your investment was guaranteed
- You were not in a position to invest the capital for a minimum of five years
- You felt pressured into taking the investment, possibly even being persuaded to switch from an existing investment or fund
Making a claim for Unit Trust mis-selling
At Goodwin Barrett we know all there is to know about Unit Trusts, including the risks involved and how they should have been made clear to you. We’re well placed to help you if you’ve been a victim of Unit Trust mis-selling. We can offer advice on how to go about your claim and manage the entire process for you.
If you would like more information about how we can help you to reclaim some of your investment from a mis-sold Unit Trust, or to simply talk through your situation, call our friendly team of experts on 0808 163 1659, email firstname.lastname@example.org or enter your details into our handy call back box and we’ll get back to you straight away.
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compensation from Halifax
compensation from Santander
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After sending a report to Santander, they agreed with our findings and awarded Mr Snowden an amount of £7,000 made up from a refund of the losses together with interest and compensation.
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We reported our findings to Halifax and within a matter of weeks had secured our client the sum of £26,700 in compensation.
After we sent a detailed complaint to Halifax, Fred was delighted to receive £6,916 from the bank in a matter of weeks.
Having investigated the complaint Lloyds TSB agreed that the advice was unsuitable and agreed to pay the clients £10,000.