We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Under performing endowments

moochag
moochag Posts: 3 Newbie
Eighth Anniversary First Post Combo Breaker
in Mortgages & endowments
I have a endowment morgage which is due to mature soon. About 8 years ago I was offered and took £4600 compensation for the misselling of the endowment, which meant I was down by £3000, my policy has fallen a further £10000 now with little time to recover. Can I claim anymore compensation as it was the fund managers who lost me my money whilst lining their own pockets?

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Did you use the compensation you received wisely?
  • dunstonh
    dunstonh Posts: 121,111 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Can I claim anymore compensation as it was the fund managers who lost me my money whilst lining their own pockets?

    Of course you cant. Also, do you really think the global recession and credit crunch has anything to do your investment funds manager?

    You complained that you should not have been sold an endowment and your complaint was upheld. The redress was paid to allow you to surrender the endowment and take the proceeds for that and the redress payment and pay them into the mortgage and switch to repayment basis.

    You clearly didnt do that but it was your own choice not to do that. Not the fault of anyone else. So, if you wish to complain again then you need to complain to yourself.
    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.
  • Dick_here
    Dick_here Posts: 1,605 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    dunstonh wrote: »
    So, if you wish to complain again then you need to complain to yourself.

    You forgot to mention the timebarred aspect, D ;)
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.9K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 247K Work, Benefits & Business
  • 603.6K Mortgages, Homes & Bills
  • 178.3K Life & Family
  • 261.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture