Miss sold endowments prior to 1988

Stevie_Wonders

> In a nutshell :-
>
> I took out an endowment with Standard Life in 1985.
> It was sold to me by an IFA to support a mortgage.
> Standard LIfe have informed me of 'high risk' it
> wont cover the mortgage
> I feel I have a good case for miss - selling.
> I have contacted the IFA, who informed me that it
> was pre 1988 and therefore outside the Financial
> Services Act.
> The IFA doesn't want to talk about it.
> The FSA and Financial Ombudsman cannot assist apart
> from informing me I could pursue the matter through
> a solicitor.
>
> Can anybody assist.
>
> I've contacted various firms specialising in miss -
> selling, who will asist on a 'no win no fee' for a
> percentage of the award . On hearing it was
> purchased through an IFA before 1988 they don't want
> to know.
>
> Is anybody else so afflicted?
> Can anuone recommend another course of action?
>
> Stevie Wonders

dunstonh

Nope. No-one can assist as it is prior to all the available schemes.

Legal action is your only course of action and you have to be sure that you have a case before you proceed otherwise it could be quite costly.

A shortfall is not grounds for complaint.