More fun and games

Pobby

My bro-in-law has just heard from the FSA that he should receive compo from the company that provided his endowment in 1990.The provider has objected and so it will be moved on a further stage.
The same provider also arranged an endowment for my wife and myself in 1988.Both policies are with Scottish Life,however ours is a ``with profits``whilst the other policy is a unit linked .Please could anyone tell us the difference and the ramifications possible.Thanks.

EdInvestor

Both WP and unit linked endowments can be missold. Their performance can vary widely however, so the compo might differ substantially even if they were both taken out at the same time.

Is the provider Royal London ( which took over Scottish Life in 2001)? Do you mean the FSA ( the regulator) or the FOS ( the Ombudsman, which decides on complaints which are rejected)?

If the sale was early in 1988 it might be before regulation was introduced, which makes it more difficult and sometimes impossible to get redress for a missale.

Pobby

Thanks for getting back to me.In fact I was wrong regarding the letter,it was from the FOS.

As regards our own policy,we have been told that as it was purchased at the end of 1988 we can complain.