child trust funds

taf1700

Hi all I'm new on the forum and was hoping that someone may be able to give me some advice.

I have 3 children aged 8, 6, and 3 all with ctf accounts. When I had my fist 2 children (my 2 boys) I opend their ctf accounts with Barclay's bank and they invested some of it in stocks and we noticed, in statements we received, that the balance was dropping gradually. So when I had my 3rd child (my daughter) we decided to transfer the boys ctf's to the Yorkshire building society along with my daughters. Since then all 3 ctf's have been building slowly.

My question is does anyone have any idea if it is possible to claim the losses from my boys ctf's back from Barclay's and how I would go about it? I don't ever recall giving permission for them to use my boys money in this way.

Any advice would be regretfully received.
Thanks[/LEFT]

Reaper

Sorry, no chance. You can't claim compensation for investment losses.

Unless Barclays did something wrong (e.g. you asked to take out a savings type CTF and they gave you a shares one) you can't claim compensation.

I don't know the timing of your switch but since we had a crash followed by recovery you might well have switched at the wrong time and missed out on some good growth.