HELP & ADVICE!!!

Smarty_pants

Five years ago my mother (71 year old pensioner) invested £10K in a Stockmarket Linked Growth Bond with HSBC. This has now reached maturity and today received a cheque for £9,537.69. :mad: I'm totally shocked that she has not made, but in fact lost money!

Has things been that bad with the stockmarket linked growth bonds and investments? She would have been better off just putting it in a plain old deposit account!

grumbler

Welcome.
Where do you live? On the Moon?
Have you ever heard about stock market crush?

P.S. Investing in stocks was and is risky business.
P.P.S. I do not understend what advice and/or help you want to get . The only chance to get some 'compensation' is to prove that your mother has been 'mis-sold' with this financial product. I do not think it is easy to proove this.

Smarty_pants

grumbler wrote:

Welcome.
Where do you live? On the Moon?
Have you ever heard about stock market crush?

Charming, I dont live on the moon, and no I've never heard about stock market crush. I thought somone would be kind enough to provide me with some insight into whats happened. I wasnt aware that she had invested her money this way and when she told me it was too late.

What is stock market crush?

Paul_Varjak

What was the full name of the growth bond?

Smarty_pants

Paul_Varjak wrote:

What was the full name of the growth bond?

HSBC Stockmarket Linked Growth Bond

Smarty_pants

Paul_Varjak wrote:

What was the full name of the growth bond?

HSBC Stockmarket Linked Growth Bond that was linked to the growth in the FTSE 100 index over the five year period, matured 24 March 2005

Al_Mac

Unfortunately your mum has invested in one of the worst times of stock market growth.

A year or two earlier and her losses could have been far, far worse.

There is very little you can do about it, unless you can find evidence that she has been miss-sold (conned).

For years these type of things have stated shares can go down as well as up.

Sorry.

Smarty_pants

Thanks anyway.

blinko

i think the fact that its with a high street bank indicates a better deal was probably available as high street banks usually have poor products, but unfortunately its very real that she could have lost some of her money i recently lost 5.2% just for having some unit trusts a couple of months odd ! but the only thing you can do is try and not let it happen again

blinko

also most of these types of product now come with some kind of capital guarantee so that you dont lose anything if the stock market goes down, anyway to answer the other part yes she would have been better off putting it in a savings account !

deemy2004

Smarty_pants wrote:

Five years ago my mother (71 year old pensioner) invested £10K in a Stockmarket Linked Growth Bond with HSBC. This has now reached maturity and today received a cheque for £9,537.69. :mad: I'm totally shocked that she has not made, but in fact lost money!

Has things been that bad with the stockmarket linked growth bonds and investments? She would have been better off just putting it in a plain old deposit account!

Complain about misselling and he may get the £440 loss back..

Your case would be that your mother thought it was zero risk, and that at the time she was note used or experienced with stock market investments thus she was mis-sold the bond..

You need to write a letter to HSBC to that effect.