Have you lost money on your investments?

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 advisors 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, so it is not surprising many people were sold investments 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 Nat West 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?

• If you were 60 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? What 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 due a refund project management web app.

What Sort of investments can I claim for?

You can claim back investments made in Stocks and Shares ISA’s , Unit Trusts, Investment Bonds, PEP’s, Capital Protected Bonds, or any other investment type that may not have been suitable to your circumstances at the time

Call CPS on 0845 602 6421 or 01625 536 777 for advice or to have a claim pack sent to you.

Agents are available until 8pm.

www.consumersavingsnetwork.co.uk