Reclaim Mis-Sold Investments
Have you lost money in an Investment with your bank, building society or a financial adviser?You may have invested on the advice of your bank but did they really give you `best advice`?
Most customers have some sort of savings or investment but few know there is a distinct difference between the two. Savings accrue interest on a regular basis – investments invariably carry some sort of risk. The risks associated with investments varies but most invest a large proportion of your money in stocks and shares and so will be directly affected by variations in the stock market.
How were Investments mis-sold?
There are many ways in which these Investments were mis-sold including:
- You were sold an Investment without having been properly advised on the risks
- Your personal circumstances were not properly considered
- Your attitude to risk was not properly considered
- You were advised to invest all or most of your savings into a single product
- You were sold an Investment Product to generate income but did not realise that if the growth is not sufficient your capital would be eroded
We have seen many examples of customers who have been specifically targeted by the banks because they have a large balance on a deposit account. The banks then contact the customer with promises of better returns if they speak to one of their Financial Advisers. The commission earned on these investments meant that the advisers didn`t always put the interests of the customer first.
In January 2011 Barclays was fined £7.7 million by the Financial Services Authority (FSA) for investment advice failings. The bank failed to ensure the funds were suitable for customers, taking into account their investment objectives, financial situation and investment knowledge, despite the fact that most of them were either retiring or approaching retirement.
The taxpayer-backed RBS and Nat West group was fined £2.8million for failing its customers too.
More recently in Dec 2011 HSBC was fined £10.5m for mis-selling investment bonds to elderly people in care. The fine comes a month after private bank Coutts, part of RBS, was fined £6.3m and the UK arm of Credit Suisse £5.95m for similar failings.
The FSA is now investigating other banks for similar offences.
More recently in Dec 2011 HSBC was fined £10.5m for mis-selling investment bonds to elderly people in care. The fine comes a month after private bank Coutts, part of RBS, was fined £6.3m and the UK arm of Credit Suisse £5.95m for similar failings.
The FSA is now investigating other banks for similar offences.
If you feel you were not properly advised and have lost money as a result, call us today!
Everything we do is on a NO WIN NO FEE* basis with nothing to pay upfront. If we win your claim, we simply take 25% (plus VAT) of your final settlement.
Remember, it doesn`t matter if you no longer have the Investment, you can still claim.
Everything we do is on a NO WIN NO FEE* basis with nothing to pay upfront. If we win your claim, we simply take 25% (plus VAT) of your final settlement.
Remember, it doesn`t matter if you no longer have the Investment, you can still claim.
We have already helped many of our clients get back money that's owed to them at an average of £15,000!
*Please note that if you cancel your claim after our 14 day cooling off period, a cancellation fee may be payable. Please see our Terms & Conditions
