Endowment Compensation Claim

cjb2611

I have two Standard Life endowment policies that I believe were both miss sold. The Financial Adviser I used is no longer in buisness so I was advised to claim compensation through the FSCS (Financial Services Compensation Scheme).

I contacted them in August 2004 and they sent me a questionaire to fill in at the end of November. In October 2005 I received a letter from the Higham Group stating that my compensation claim had been passed onto them from the FSCS to quote "minimise the delay in assesing my claim".

I contacted the Higham Group today 25/01/06 and was advised that my claim was still going through their system.

Does anyone know if should I also contact Standard Life in my pursuit of compensation.

arlington_2

Hello!

We believed that we were missold 2 endowment policies. We complained on both but were told one was time-barred. This was before all the new gov. regulations about time barring. We received compensation on the other claim but the ombudsman upheld Friends Provident's assertion that we were too late on the larger claim. This was all despite the fact that each time we received a letter saying our endowment might not be performing to our expectations, we phoned and were told that actually our fund was performing well. It was only after the time bar period that we discovered it was not!
We worked out that our claim would have been worth about £15,000. If Friends Prov hadn't given us misleading information we would have complained earlier. Funnily enough, the ombudsman said they couldn't take this into account because we were just too late!