Complaint about mediators in mis-sold endownment

kathyjustice

We were approached in April 2006 by MorganGreen Ltd (mediators) who, over the phone, advised us that they would act on our behalf as our endowment policy was mis-sold and it would cost us £522.00 for a win-win basis. We were told we would get our money back if we did not win.

Our case was referred to the ombudsman. We have just received a reply to say that they did not think they could recommend that our complaint should be upheld. We contacted MorganGreen only to be told that our fee was non refundable and covered the cost of administration. Our advisor's attitude seemed totally indifferent (as though she dealt with this all the time).

Has anyone else suffered at the hands of these mediators? We are absolutely disgusted with our experience and would like to warn others. £500 is a lot of money to lose. I am now going to contact Watchdog to see if we can get some money back.

EdInvestor

Yes, we've already had a number of complaints and warnings about these people.

They are based in Spain so you probably won't be able to take them to court to get your money.

Not much help now I know, but never pay upfront to a complaints handler: the rule is "no win,no fee".

defender_of_the_weak

Complaint handling regulation should be fully operative by April this year. However you can report them now to the Claims Management Regulation Monitoring & Compliance Unit within the Dept of Constitutional Affairs
0845 450 6858 or info@claimsregulation.gov.uk. given the number of times I have seen their name pop up for taking money in this fashion perhaps they will be kicked out or stopped from trading.

Every industry has its bad ones within it and I for one would be happy to see them go, they give people like me a bad name

Have you had an adjudication or an Ombudsman ruling. Check after the persons name for their status. An adjudication can be appealed a ruling cannot.

If you pm me your case details I might also be able to tell you whether they knew from the start the complaint would fail, in which case this would potentially a fraud

dunstonh

Eds post should have the link as : http://forums.moneysavingexpert.com/showthread.html?t=281165&highlight=Morgan

They are a disgraceful company. I have had first had experience with a client with their approach (not relating to my advice) and they told outright lies in an attempt to get that upfront payment. I have heard similar stories locally from other financial services company owners who have been cold called as well with misinformation.

kathyjustice

Many thanks for your comments. I have an address for them in Bond Street, London. Do you think it's the same company? I will do as you say and report them to the Claims Management Regulation Monitoring & Compliance Unit.

Defender of the weak - This is the first time we have been on a chat forum. How do we go about giving you our details to check if its fraudulent?
Regards
Kathy

dunstonh

It is the same company. Having an address in London doesnt mean they do the work there. Its also New Bond Street. Not quite as posh

ReportInvestor had details of a journalist that wanted information on them following a number of complaints. RI, it may be worth you PMing kathyjustice if you are reading this.

EdInvestor

kathyjustice wrote:

Defender of the weak - This is the first time we have been on a chat forum. How do we go about giving you our details to check if its fraudulent?
Regards
Kathy

Click on his user name on his post, some options will come up, select send a private message and off you go.

The reply will arrive in your PM box, accessed at the top right of the page.

piplou

[i Have Just Had A Bad Episode With This Company And Cud Do With Some Help. I Have Cancelled During My 14day Cooling Off Period. Only To Be Told I Wont Get A Full Refund.this Is Not Mentioned In The Terms And Conditions.............is This Allowed

UK007BullDog

Sorry to be a spoilsport but Piplou seems like one of those trolls who likes to post using a capital letter in front of every word. This must be so painful and slow. This is now the 3rd time we see someone posting like that. And it makes reading so difficult. I am not going to bother looking for the other posts and linking. The regulars will know. Geeshhh :rolleyes:

piplou

so sorry for that dont know why i did it................

dunstonh

They are not a popular company on these boards. They have been caught telling lies about claims a number of times now.