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HELP!! Rejected by the Ombudsman
jbirkenfield
Posts: 4 Newbie
We have been trying to get compensation for our endowment policy for a little while now. We have approached both the mortgage lender and the endowment company who both told us to go away, so we took our case to the Ombudsman who has also told us to go away on the basis that the "advice" to take out the endowment was given by a solicitor/IFA. As the mortgage was taken out some time ago and the IFA is no longer in business - is this the end of the road or is there something else we can try for one last gasp at compensation?
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Comments
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What was the date you took the policy out?
Who sold you the policy. The IFA or the solicitor? This is quite important because it will have a different answer to what you should do (for example, I have given advice to clients in a solicitors office but I am responsible not the solicitor. However, if the solicitor gives the advice, he is responsible).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
The solicitor seemed to "wear" two hats as the docs he signed are signed as solicitor, but when the insurance company wrote back to us it was with an IFA ref number. Don't even know if the solicitor is still in business. If not does this mean the end?0
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Dates.....Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0
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jbirkenfield wrote:The solicitor seemed to "wear" two hats as the docs he signed are signed as solicitor, but when the insurance company wrote back to us it was with an IFA ref number. Don't even know if the solicitor is still in business. If not does this mean the end?
IFA ref number is just a term. It doesnt have to mean IFA. Its almost certainly an assumption on the part of the insurer because it shows an agency number that isnt one of their own reps. 90% of these would then mean IFA.
Still need dates....I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Date endowment policy was signed for was 12 Feb 19880
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Game over. That is before regulation came in for IFAs, let alone solicitors.
You are out of options I'm afraid.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks for that. We thought it was the end, but me being downright stubborn, thought I could still get the so and so's. Ah well!!!0
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