Has anyone had a complaint upheld by Ombudsman?

Crazy_Saver

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Hello Everyone.

I eagerly check these boards, as I myself am in the process of a Mis-Sold Endowment Claim.

My claim has been rejected by the firm of financial advisors who originally arranged my endowment for me but with a lot of help from Dunston and Vinno I have now passed it over to the Financial Ombudsman Service.

What I would like to know is if anyone out there has been successful and had their claim upheld by the FOS.

I appreciate that every claim is different, I'm just curious!

Thanks

Crazy Saver

Martinslovechild

Yes - mine was upheld by the FOS.

I can't find my original letter, but it did take nearly 6 months for a final decision; they eventually came back to me awarded the difference between the value of the endowment at that time and where I would have been had I been initially recommended a repayment mortgage instead.

It certainly didn't make me rich, but it was rather welcome given the dire value of the policy each time I received my annual statement. Don't you just love Fund Managers? Fund Mis-Managers more like! My pet Cat has made more financially sound decisions than many Fund Managers

carolchick

I know exactly what you mean. I used Keypoint to pursue my claim and despite telling them that there were not many years left to run and the mortgage pre-dated current legislation they assured me they could gain redress of £7000 (shortall to date) No calcs caried out either. What offer did I get £700!! The abbey wouldn't liaise with them and I had to do all the work myself so I paid half their bill which I felt was fair and I'm now defending county court proceedings, which is fine by me and is just up my street!

dunstonh

It certainly didn't make me rich, but it was rather welcome given the dire value of the policy each time I received my annual statement. Don't you just love Fund Managers? Fund Mis-Managers more like! My pet Cat has made more financially sound decisions than many Fund Managers

Most fund managers do a good job and do not mis-manage. You shouldnt put the blame on the fund managers for the constraints that they have to act within on with profits funds.

What I would like to know is if anyone out there has been successful and had their claim upheld by the FOS.

The overturn rate is somewhere between 30-40% presently and is trending downwards (which is good from my point of view ). Endowment complaints do tend to have a higher success rate though.