Scottish Provident

erdingtonclive

I have written to Scottish Provident complaining that they have failed to perform. I have a 1984 endowment and it is going to be £1250 short.
They are telling me to complain to the FSA but I feel my complaint is with them.
Many similar companies have out-performed them.
Their replies are terse. Has anyone else had any dealings with them?

Soubrette

erdingtonclive wrote: »

I have written to Scottish Provident complaining that they have failed to perform. I have a 1984 endowment and it is going to be £1250 short.
They are telling me to complain to the FSA but I feel my complaint is with them.
Many similar companies have out-performed them.
Their replies are terse. Has anyone else had any dealings with them?

I don't believe you can complain if you feel an endowment has underperformed - only if it has been missold.

As far as I know the misselling of endowments scandal was all about people not being told that there was no guarantee that their endowment would pay off their mortgages.

If you feel your problem is the latter then here is some advice from the FSA. Making a Complaint.. They seem to be saying that you should be going back to the broker who originally sold you your endowment but that as your endowment is older than 1988 then you may have a problem making a complaint for misselling.

Good luck

Sou

luckyfool

erdingtonclive wrote: »

I have written to Scottish Provident complaining that they have failed to perform. I have a 1984 endowment and it is going to be £1250 short.
They are telling me to complain to the FSA but I feel my complaint is with them.
Many similar companies have out-performed them.
Their replies are terse. Has anyone else had any dealings with them?

You have contacted them to complain that their performance has been basically crap? Not their problem to be honest. I had some shares in Moneysupermarket, that hasn't turned out to be too good an investment, maybe I should complain to Simon Nixon (the founder)!

As the previous poster says, if you were misadvised as to the risk of endowments, or were missold, then by all means complain to the person or company that sold you it. You can't complain just because Scottish Provident endowments may or may not have underperformed their competition.

dunstonh

They are telling me to complain to the FSA but I feel my complaint is with them.

The FSA dont handle complaints. Also, you cannot complain about investment performance (well you can complain but they will reject it as its not an area they have to answer).