im lost re miselling??

foxyuk

do i write to legal and general who they are with

or do i write to dunfermline building society and nationwide who sold them

EdInvestor

You will probably find that Dunfermline and the Nationwide were acting officially as "tied agents" of L&G at the time they sold you the endowments, so the complaint should go direct to L&G.

But ring them up and check, you won't be the first to ask this one

Compensationitis

Nationwide were never tied to L&G, they were independent then tied to Guardian followed by their own concoction, no idea what Dunfermline got up to.

L&G will tell you who the agent was at point of sale and they will probably refer the complaint to those responsible.

foxyuk

i will write to l & g and then leave it to them to pass it on...

Compensationitis

Better make doubly sure and contact the people L&G think are responsible.

dunstonh

The 1986 policy may get rejected as there was no consumer protection at that time.

Compensationitis

Dear me, if the adviser or provider were under the voluntary or compulsory jurisdiction of their chosen former scheme the date is irrelevant.

I am a retired IFA of 20 years standing who feels ripped off by the providers and the regulators, I am most aggrieved that my clients were let down because I didn't know then what I know now.

It isn't too late though!

dunstonh

I'm not retired and feel ripped off by the IFAs that sold all these plans with little common sense and extremly poor product knowledge and then !!!!!! off leaving the bill to sort out this mess to those of us who have never had a complaint or sold such duff products.

Compensationitis

So you never sold a low cost endowment? What planet were you on?

Do you know Terence O'halloran who is still an IFA in your neck of the woods?

I set up The IFA Defence Union and find your attitude typical of the 'nimby' IFAs who look for business on these forums. 'twasn't me guv....

Evan Owen
https://www.ifadu.co.uk

foxyuk

nationwide finacial services ceased in 2003 so lettered legal and general and nationwide head office in swindon

as per fsa site looks like dunfermline b/society have had licence 2001 so it must have been independant within the bank back in 1986

as nationwide have ceased what happens because i bet u the head office will have nowt on it???

EdInvestor

dunstonh wrote:

The 1986 policy may get rejected as there was no consumer protection at that time.

Actually there was some protection: insurers owed a "duty of care" to their customers which covers misselling.Some big firms (NU, Standard Life,Halifax) have voluntarily accepted pre 1988 complaints for this reason.I am not sure of the position re those mentioned on this thread, however. The industry is keen to settle the endowment problem soon and move on, hence the new policy of enforcing "timed out" complaints.