Endowment claim and the Law Society

Melody

We have three endowments and have received compensation for two of them. The third one (Scottish Amicable now Prudential) was sold to us by a firm of solicitors who handled the purchase of our last property. The solicitors turned down our claim for compensation so we referred it to the Ombudsman. The Ombudsman has declined to consider the case and suggests that we should contact the Law Society. Has any one else been in this situation? Any advice would be welcome.

defender_of_the_weak

Your chances of success are very very very small. The Law Society operate a completely different system to FOS and base their decision on the presumption that everything was followed to their own code of conduct. Even when they have no evidence to support this position unless you have written proof that something did not follow this code of conduct best advice is to drop it and move on.

Not what you wanted to read I'm sure, just my opinion based on experience

Mr_helpful

I did actually win against a solicitor over money held in trust for a minor but I was able to prove that virtually no fact finding was done so unless you have proof as DOTW says you will struggle. The law soc is of course made up of legal people who cover each others backsides.

dunstonh

On the upside, it's a Scot Am plan and their endowments are usually not too bad and they do have a good success rate of hitting target to date. (95% in 2005, 96% in 2006).