mis-sold 2 endowments independent advisor

walcott

i was sold two endowments how do i claim against an independent financial advisor who has ceased trading?
i know where he is now working please does anyone have any idea how i can try to recover my shortfall. xxxxxxx

canny_yorkshireman_2

how long ago was it if it is pre 1988 then you will not get any help from the financial regulatory bodies the only way to try to redress the situation is take him to court a bit risky in that you would have to prove that he mis-sold the product

dunstonh

You cannot claim the shortfall. You can only attempt to claim the cost difference between the repayment mortgage and the endowment mortgage.

If the IFA was a network member, you complain to the network. Has the IFA actually ceased trading? they may have moved address or, if sole trader or partnership, have a lifetime liability on the advice.

Or, if its pre 1988 you are out of luck.

dreamylittledream

If the policy was sold after August 88 the FSCS may be your only hope...

EdInvestor

Ring up the insurer the endowment is with first, to confirm exactly who they have listed as selling you the endowment.Then complain to that company.

If sold after 1988, and the advisor has gone out of business, try here:

https://www.fscs.org.uk