Investment Company Liabilities

PeterAngus_2

Was there any responsibilities for companies, eg Bell Lawrie for investing a large proportion of our investment portfolio in the banks and subsequently losing a large amount of our savings, due to the crash?

dunstonh

subsequently losing a large amount of our savings

You mean investments and that means the value can go down as well as up. Your savings were not lost. The invesmtents would have been made in line with your risk profile and tolerance to loss.

Unless you believe that the investment companies have a crystal ball that would have told them that the banks were going to suffer as much as they did, then there is very little they can be held liable for.

turbobob

As long as these companies shares were within your attitude to risk then I don't think there is any liability on their part. I don't think its typical for these sort of discretionary portfolios to either hedge or use any sort of stop loss. Unless there is a specific agreement that they will do these things to control risk, then I don't think you can expect them to.

The latest Ombudsman news has some examples of complaints they've recently dealt with involving advisory or discretionary stockbrokers.
http://www.financial-ombudsman.org.uk/PUBLICATIONS/ombudsman-news/78/78-investment-complaints.html

whiteflag_3

PeterAngus wrote: »

Was there any responsibilities for companies, eg Bell Lawrie for investing a large proportion of our investment portfolio in the banks and subsequently losing a large amount of our savings, due to the crash?

Peter although theres nothing you can do, I sympathise with you as in my experience Bell Lawrie (or Brewin Dolphin) as they are branded now are awful.

I have clients with portfolios with them and their lack of ability is startling. As they cant seem to pick the correct stocks they are now buying funds which begs the question why use a stockbroker?