Have you lost money on your investment?
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You could be due £1000’s in compensation – plus interest.
Roy Gwinneth our Mis-sold Investment Adviser with over 27 years experience working as a financial adviser and IFA, for major Banks including 20 years with HSBC, explains why in many instances bank customers were sold investments unsuitable for their needs
HOW WERE PEOPLE MIS-SOLD INVESTMENTS BY BANK ADVISERS?
Most bank financial advisers were tied agents, which means they could only recommend investment products provided by the bank they worked for, which limited the options available. This resulted in customers being sold investments that suited the banks product range rather than the customer’s requirements.
In most cases, bank advisers were targeted monthly and annually, so were put under pressure to hit their target if they wanted to keep their jobs or receive a bonus. Therefore it is not surprising that many people were sold investments which were unsuitable for their needs.
In fact Lloyds Banking Group was recently fined £28m by the FCA for putting branch staff under such pressure to sell products in order to claim bonuses or avoid being demoted. HSBC were also hit with a £10.5m fine for selling unsuitable products to almost 2,500 elderly customers, and Barclays were fined £7.7million. RBS and NatWest group have also been fined £2.8million for failing to properly serve their customers’ needs.
HOW DO I KNOW IF I WAS MIS-SOLD BY MY BANK ADVISER?
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If you were 50 years plus when you made the investment, and your attitude to risk was cautious or you wanted a no-risk investment
If more than half of your available capital was invested
If the Investments were never explained in detail, including the initial charge, ongoing charges and commission paid to the agent or bank.
WHICH BANKS WERE INVOLVED IN THE MIS-SALE OF INVESTMENTS?
If your investment was sold by an adviser from Lloyds, Barclays, RBS, Bank Of Scotland, Halifax, Alliance and Leicester, NatWest or any other bank or building society and you lost money on it, you may have been placed into a far riskier product than you had intended and therefore are due a refund.
WHAT SORT OF INVESTMENTS CAN I CLAIM FOR?
You can claim back investments made in Stocks and Shares, ISAs, Unit Trusts, Investment Bonds, PEPs, or any other investment type that may not have been suitable to your circumstances at the time. Also, Capital Protected Products, sold by Lloyds between 2007 and 2012 as they are prepared to compensate loss of interest.
CLIENT SUCCESS STORY
We are getting real results for clients who, perhaps like you have given up on their loss thinking that nothing could be done. Take Mr and Mrs Pengally, who had this to say about our service. ‘Purely by chance did I read the CSN article regarding possible claims for mis-sold investments in a recent Cotswold Life magazine. Simply a telephone call to CSN set a hugely knowledgeable and experienced financial expert into action. My wife and I had written off our losses a decade ago, the outcome has been incredible and beyond our wildest expectations. Anyone having lost money in the manner we did should contact Mr Roy Gwinneth at CSN. Our sincere thanks to them.’
We managed to not only get their £34,000 loss from Scottish Widows Flexible Option Bonds and ISAs fully refunded, we also won them over £60,000 in added compensation from Lloyds. Give us a chance to review your case, all work is done on a no win-no fee basis so you have nothing to lose and potentially everything to gain!
Consumer Savings Network also specialise in claiming money back from mis-sold Self Invested Personal Pensions (SIPPS) and PPI.
Consumer Savings Network, Bank House, The Paddock, Handforth SK9 3HQ
Call now for more information:
0800 032 7112 01625 536 777 www.consumersavingsnetwork.co.uk