In this blog I will overview A)what mis-sold Investments are, and B) the process of a Free Investment Review
So you’re a little older these days, and age brings certain things. How shall I term some of those things? Let’s call them… reminders.
Age ‘gifts’ us little reminders of accumulated years. Yes, I’ll go with that and also leave it at that! That gets the negative out of the way.
However, as anyone beyond a certain age knows, it can signal good things. Many good things. Such as wisdom. Or experience. Or patience, to name but a few.
And here’s another one – Wealth.
With a bit of hard work, good fortune and some skill, age often also brings the accumulation of an ‘estate’. Wealth; money; savings; things to protect. Perhaps capitalise on, with immediate and extended family in mind.
Perhaps through… Investments.
Did you then go to your Bank for advice?
If you went to your bank to get advice, the least you would have expected would be EXPERT advice, right? To be recommended a suitable financial product to match your needs. I mean they ARE the experts, are they not?
That’s what they kept telling us. They still do.
However that’s simply not been the case.
Lloyds, Barclays, TSB, Bank of Scotland, Halifax, and more.
We’ve now seen for example Barclays fined £60 million for Investments mis-selling. We’ve seen that Lloyds, TSB, Bank of Scotland, and Halifax mis-sold Isas and insurance. These were not the only banks, by any means.
So much for the experts, then. Were you affected?
The Professional Financial Claims Association, has also come out to say that ‘The information investors receive should be ‘clear, fair and not misleading’ often this was not done’.
They also said that ‘The advice was not suitable and did not take into account consumers’ needs and circumstances’.
And Which? conducted a damning and oft-quoted investigation. We can see clearly that commissions that are undisclosed or secret are a common trip-up.
Which? Undercover Investigation
Which? researchers found that only five out of 37 advisers in banks and building societies gave good advice about investments.
Good Advice – what does it mean?
Good advice includes full disclosure of:
- commission-earning products
- savings protection coverage
- fully explaining and choosing the right level of risk for each customer
- being clear on charges.
Which? said 18 – almost half the total – claimed there was no cost for the advice, despite receiving commission for selling the products.
The majority of advisers showed a poor understanding of the risks of investing and made misleading statements about the features and costs of available products, with many of the advisers recommending products that were inappropriate.
The FCA also chipped in;
The FCA were also concerned with these findings and undertook a mystery shopping review where they concluded that 25% of investment sales in the retail banking sector gave cause for concern over the suitability of the advice given.
Okay, what do I do about it? Have I been mis-sold? Can I claim?
To find out if your investment is suitable for you and to ensure that you have not been short-changed, we are offering you a FREE INVESTMENT REVIEW.
Just because your investment didn’t lose any money doesn’t mean you weren’t short-changed.
At ;Maple Financial we can you help you even if the plan has already paid out when it matured or when you surrendered it.
Every case is different and we can run complex loss calculations when necessary as part of our initial review.
READ THIS NEXT BIT CAREFULLY – IT’S VERY IMPORTANT.
Generally, where you have already had your money back, there may still be a settlement to be claimed.
Yes that’s right, even when you got your money back – and even if you got back MORE than you paid in.
Sometimes, if you have made a large gain we cannot claim more, but every case is different so let us review your plans and we can tell you.
We write to your provider to request certain information that allows our experts to review your investments. The review will establish one of two possible outcomes.
1) Your investment is fine and no action is required. There is no charge and you can have peace of mind that you received a good deal.
2) The review indicates that you should challenge your provider for compensation.
If you would like to proceed, we will submit a complaint on a NO WIN, NO FEE basis*.
Even if you do not proceed, the Review is still free.
Risk-free opportunity to have your savings and investments professionally reviewed – CHECKLIST.
● The Initial Review is free whether you decide to proceed with a claim or not.
● We charge no up-front fees and just as important, we take nothing from the existing value of your plans.
● If we take your case on and if we obtain a cash settlement, all we charge you is a share of the amount we win for you over and above any value already available to you.
● The settlement is paid to you in full and you settle our fee at the end of the process.
There is no catch. If we win nothing, we charge you nothing.
How do we claim compensation?
All our clients are different and every case is assessed individually.
Sometimes we can claim because investments or savings plans were simply unsuitable and they were mis-sold.
Other reasons might be technical shortcomings, the management of an investment or fund, regulatory issues or perhaps a combination of these factors.
So, simply contact us and we’ll start your FREE INVESTMENT REVIEW right away. Either way, you’ll get piece of mind.