Was I mis-sold my investment?
You may not realise you’ve been mis-sold an investment, or you may not know how to judge if the advice you received was unsuitable for your specific needs and situation.
If you’ve lost money on an investment as a result of poor financial advice, you may be able to start a claim and get your money back. You can call us to discuss your investment – we can determine if you’ve been a victim of mis-selling – or you can read this guide to help you decide if you’re owed compensation from your investment provider.
Mis-sold investments are defined as:
The negligent, deliberate or reckless sale of an investment, where the investment was misrepresented or unsuitable for your needs.
It’s important to know that an investment may not have been mis-sold if it simply didn’t perform well. There are many factors affecting the performance of all investments, but there are particular questions you can ask yourself to identify whether you’ve been the victim of mis-selling.
How to judge if you’ve been mis-sold:
If your answer to any of the below questions is “no”, you may have been mis-sold an investment because you received bad financial advice:
- Did your adviser properly explain the risks involved?
- Were you made fully aware that you might have lost money overall at the end of the agreed investment period?
- Were you made aware of how much money you stood to lose over the investment?
- Did the adviser clearly explain to you how the investment product worked?
- Were the terms of the investment fully explained – were you made aware of the financial penalties for taking out your money early?
- Were the annual management charge figures set out for you?
- Did your adviser take due care and consideration over what you hoped to achieve from your investment?
- Did your adviser ask what the returns were earmarked for – retirement, school fees, health care, and so on?
- Did your adviser ensure that you had a good level of investment understanding?
- Were you asked if you held other investments?
- Were the alternatives explained if the investment proved unprofitable?
If you can reply “yes” to the further questions below, then you may have been pressured into a sale, and if that’s the case, you can make a claim for investment mis-selling:
- Did the adviser lead you to believe that good returns were practically guaranteed?
- Were you led to believe that your initial investment was completely safe, even if the returns didn’t materialise?
- Did you feel pressured to make the investment?
- Did your adviser seem intent on selling you one particular product?
- Were you encouraged to move funds from an existing investment into another with a promise of higher returns?
What’s the next step?
If you’ve read through the list and you believe you were mis-sold an investment and would like to have a conversation, call one of our experts on 0808 296 2762 or email firstname.lastname@example.org. A claim could result in you receiving thousands of pounds in compensation within 6 weeks*
*average time taken from submission of claim to offer of compensation on investment claims, pension claims can take longer
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compensation from Halifax
compensation from Santander
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- Hassle-free process.
- No lengthy paperwork to complete.
- Your own dedicated claims expert.
- Claims settled within 6 weeks on average.
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We've helped thousands of people win compensation as a result of unsuitable financial advice.
Please note the amounts shown are before the deduction of our fee which is 40% plus Vat – total 48%.
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This was an excellent result which my wife and I never expected. My sincere thanks to you for such an excellent achievement, I cannot thank you enough
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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I am so grateful to your company but especially to Steve Wise for getting me the money back
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.