Miss sold endowment

SueWright

I was sold a Commercial Union endowment policy back in May 1995 by a financial advisor/mortgage broker who also arranged a mortgage through Abbey National. I never actually met the person only spoke on the phone and recieved letters. Now many years on and constant changes of ownership of the policy, CGU, Norwich Union, now Aviva, I have been informed the policy will not reach it's target. It was sold to me as a 'with profits' policy and assured it would more than reach it's target with a nice lump sum at the end, which closes 4 years after retirement.

My problem is I can't remember the name of the Mortgage broker, the letter has long gone. Where or how do I claim? Do I write to Aviva?:(

dunstonh

Where or how to I claim?

You complain to the selling agent or their representatives.

Do I write to Aviva?

Only if they are were representative of Aviva.

Aviva will be able to tell you who the selling agent was and the address (if commission is still being paid - i.e. firm still exists). You should also ask Aviva if you are timebarred. Over 3/4s of endowments are now barred from complaint. So, asking them before you start should save you time if they tell you that you are timebarred.

SueWright

I received a red alert letter from Aviva, but it quotes Can I still complain only "if you have received advice to buy frpm us or one of our representatives". But the IFA probably represented CU. Will Aviva have details of the of the original policy and who arranged it?:)

EdInvestor

You have 3 years to complain after receiving a red alert.Aviva should be able to tell you who sold you the policy.

Annisele

If the policy was sold by an IFA (an *independent* financial adviser) then he wouldn't have been representing CU.

By far the easiest thing to do is ring up Aviva and ask them who the selling agent was. They might not be able to answer immediately (as they might need to order their paper files from archives), but for a 1995 sale it is possible they could just tell you over the phone.

SueWright

Thank you to all the replies, I'll contact Aviva for the selling agent details. Much appreciated:)

pwllbwdr

I was in a similar situation to you. I contacted Aviva and they supplied a copy of their file from the original application to CU. Together with what I had I made a successful application to the FSCS fund - the advisers who sold my endowment were on their list of firms in default.

Don't delay.