who do I complain to ?

jwoods_2

We got our Endowment through a financial advisor.
We have decided to claim a mis sell.
We have now been told the short fall is between £10.000 and £15.000. A massive amount.

The question I have is, do I write to the Financial advisor and her company OR the Endowment company?

Thanks for any advice, as you can see I need it.

June

dunstonh

We have now been told the short fall is between £10.000 and £15.000. A hugh amount.

A shortfall projection does not mean there will be a shortfall. It means that a straight line calculation from that point at x% p.a. would result in that figure. Endowments do not work on straight line growth basis so there may not be a shortfall despite what the projection says. Equally, the company you are with and where it is invested could be dire and the shortfall at the end could be worse. A number of shortfall projections are also inaccurate because they project from the surrender value and not the real value (mostly older conventional with profits plans).

The question I have is, do I write to the Financial advisor and her company OR the Endowment company?

You write to the adviser unless the adviser was employed by or represented the insurance company.

EdInvestor

Ask the endowment company who was responsible for the sale.

jwoods_2

Thanks for the information.

Here goes with the complaint, let's see if we get anything back from them.

June