Where next?

Reedy

We were missold our endowment policy early in 1988 by a Limited Company of Financial Advisors who have since gone out of business. As the FSCS cannot investigate investment advice that was given before 28 August 1988, are there any other routes that we can follow in order to compensate for our substantial shortfall?

silvercar

no, or at least that's what I was told in a similar situation.

Reedy

Given that it looks unlikely we will get compensation from the FSCS, I'm running out of options. Why set up a scheme that only covers you if you had advice after a certain date. We still had bad advice, what does the date matter? Surely the government can do better than that! There must be many people who fall into this category. I've taken this to my local MP, maybe if enough people apply enough pressure the government may be forced to revise the remit of the FSCS?

And what about the company that put this product on the market? Clearly the product hasn't performed as anticipated even though it is was set up specifically as an endowment plan linked to a mortgage repayment. Is there nothing that can be done? It seems wrong that the company which came up with this product is able to get away with it.

:mad: