Compensation for Mis-Sold Investments or Pensions

Most banks and building societies no longer offer financial advice to their clients in their high street branches. However, they are still responsible for the advice given by their employees.

In order to clear up potential mis-selling claims, some are writing to customers asking whether they feel they were ‘mis-sold’ investments or pensions. Some are offering the opportunity to engage an Independent Financial Adviser to review the investment and charge it to them.

In a recent case I provided a comprehensive report (paid for by the building society) and the net result was a compensation payment 25 times greater than the original offer.

Independent advice from a qualified and experienced practitioner is important because they are working for the client, not the company, and they know how to unravel the potentially complicated documents such as a fact find, particular product features, benefits and the impact on taxation as it affects the individual.

If you are affected by this or you know someone that is, a good starting point is to select an adviser that is a member of the Society for Later Life Advisers (SOLLA) they hold additional qualifications and have experience in planning for later life. Whatever your age this knowledge is vital when considering long term investments and pension arrangements, to avoid being mis-sold products.

Call me on 07767 795816 to arrange a free initial meeting and benefit from my experience

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