Mis-sold Endowment Policy, Another Approach?

dunstonh

...but if you lie and are caught out with a lie, then other "grey" areas where perhaps the advisers documentation is not as strong, the person checking the complaint will be less inclined to believe you and favour the adviser.

You can overdo a complaint and you should never lie.

lindos90

I never suggested they lie, I was giving an example that the ombudsman takes into account if someone has little financial knowledge and experience and is therefore taken advantage of by the advisor which is what the OP appeared to be thats all.....!!!!

defender_of_the_weak

The relevant case study is on Ombudsman news issue 44, ertainly in the low 40's. Just because someone says balanced or ticks a form which the consumer may or or may not see, this does not nedcessarily represent reality or the clients position. There should be some evidence of previous investment history or detailed explanation and comparators being provided as part of the sale. You can request a further Ombudsman ruling if you disagree with the adjudication and don't accept being fobbed off by the sometimes high handed tone of the adjudicators letters. If possible, refer them back to their own case study as suggested by lindos above

I see far too many of these.... don't get me started

lindos90

thanks for your support of my reply defender! im new to the forum and that ment alot!

vinno65

Hi Justcallmeamug,
DOTW is right.Keep on with your complaint how have they come to the conclusion that you were balanced investors? I would ask to see a copy of your file showing how they decided you were balanced? There have been examples of people signing forms where "balanced" or "cautious" were the lowest available options so you could not state you were risk averse even if you wanted too. As DOTW says they have to show that your financial history was taken into account i.e did you already have money invested in stocks and shares as this would point to you being prepared to take a risk.If all you had were a couple of building society deposit/current accounts then obviously it wouldn't.

regards Vinno