bank has offered cash settlement for misadvice

oograndma

I wonder if anyone can help me, my bank has sent me a letter saying that they feel they have not advised me, on my long term investments, to the best of their ability and are offering a one off payment if I sign a waver to claim in the future. The waver rings a few alarm bells, Im unsure how to act and would be very grateful for anyones help.

Occams_Razor_2

a waiver is standard practice in 100% of cases like this.

its effectively what you are selling, the right to further claims.

atush

Are you happy with the compensation? Does it put you where you should have been w/o their poor advice? Ask them to explain their calculations in how they came up with the amt of comp?

dunstonh

All complaints have a waiver. It is normal and common sense.

Otherwise you could just keep complaining every 6 months asking for more money.