endowment advice please

fairycake

ok, we have an endowment with Norwich union and think we may be entitled to compensation for miselling, but i am confused.

Does the money if you are entitled come from the insurance comp or the financial advisor.

If it is the financial advisor, then mine is dead , what next?

Also if i was to approach one of these companies that do it all for you, how much of the compensation do they take as payment? I know i ought to do all this myself, but i just am not well enough at present , but dont want to miss out on any monies that may be due.
Thanks alot

dunstonh

Does the money if you are entitled come from the insurance comp or the financial advisor.

If it is the financial advisor, then mine is dead , what next?

If independent, it comes from the advising company, which may the adviser or his employer. If he worked for NU, then its NU that are responsible.

Also if i was to approach one of these companies that do it all for you, how much of the compensation do they take as payment? I know i ought to do all this myself, but i just am not well enough at present , but dont want to miss out on any monies that may be due.

They generally take 25%. Some take a fixed amount. Indeed, a case was highlighted at a recent compliance meeting where someone used a complaints firm, the complaint was upheld and the redress was 56p. However, the complaints company billed her for just over £800 which they were entitled to as part of their agreement. If the complaint is upheld, the advice company does not pay the bill of the complaint company.