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Endowment churning
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Pobby
Posts: 5,438 Forumite
When a relative took out an endowment in 1990 they were persuaded to ``churn`` an existing policy.Is there any redress for this?
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Churning does not mean mis-sale. When valid, the regulator promotes the churn of a product. Its when its not valid that it gets treated as a missale. With endowments, its hard to justify the move from one endowment to another. In 1990 it would have been virtually impossible given the info back then.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
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