Tamara Gordon from Barnet got back £2,650 from Lloyds

Tamara had just started her career as a teacher in 2000 and wanted to put some money away for her future. She spoke with a financial adviser at Lloyds to discuss the best way for her to do this. She was advised to invest a total of £4,500 into a Stocks and Shares ISA. She was happy to do this as any growth the investment made would be free of tax. In addition she could also invest into the Environmental Fund which only invested into companies that made a positive contribution to the environment which was important to her.

Tamara kept her investment in place for a number of years, taking withdrawals when she needed to, and received back £4,260 in total, resulting in her losing money.

Tamara contacted Goodwin Barrett after seeing one of our ads online. We looked at the advice she was given and our experience recognised straight away that although the Environmental Fund was considered to be socially responsible it was also much higher in risk than many other funds. It was clear to us that as a first time investor this was not suitable for Tamara.

We sent our claim to Lloyds explaining that Tamara was advised wrongly to take this higher level of risk.

Lloyds investigated the advice they had given Tamara almost 20 years earlier and agreed with our findings. Lloyds calculated how much better off she would have been if they had advised her correctly and added interest on top. As a result of our work Lloyds paid Tamara £2,657.