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compensation for missold shares
shoi
Posts: 168 Forumite
If anyone here was a victim of a dodgy stockbroker (as I was, fool that I am) under the name of Montague Pitman / Falcon Securities / Jarvis Investment Management
Good News
I have just had my claim accepted and compensation paid by the FSCS
I used a claims outfit Hallbrook Partners to help fill out the forms, so they took a percentage.
Hurray for the compensation culture!
Steve
Good News
I have just had my claim accepted and compensation paid by the FSCS
I used a claims outfit Hallbrook Partners to help fill out the forms, so they took a percentage.
Hurray for the compensation culture!
Steve
0
Comments
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Congratulations on getting something back.
In future it's worth remembering that the FSCS and Financial Ombudsman Service are free and consumer friendly, so there's no need to pay a claims management company a fee (which is often very high - I've seen over 30% once VAT is accounted for).I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
If anyone here was a victim of a dodgy stockbroker (as I was, fool that I am) under the name of Montague Pitman / Falcon Securities / Jarvis Investment Management
Good News
I have just had my claim accepted and compensation paid by the FSCS
I used a claims outfit Hallbrook Partners to help fill out the forms, so they took a percentage.
Hurray for the compensation culture!
Steve
That's interesting, Jarvis Investment Management run X-O which I use for certain non-leveraged trades. What was the situation exactly?
J0 -
Jegersmart wrote: »That's interesting, Jarvis Investment Management run X-O which I use for certain non-leveraged trades. What was the situation exactly?
J
Yes I doubt Jarvis were the problem, rather the former 2 that just happen to use Jarvis platform for their trading.
Could be wrong though!0 -
FSCS wouldnt be involved if it was Jarvis that had the liability. It is rather unfair of the OP to name them on a mis-selling thread.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.0
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It is rather unfair of the OP to name them on a mis-selling thread.
Well Jarvis clearly had dodgy mates, and they must have been in a position to find that out. They were all intertwined to the point that I just thought of them as a single entity with some sort of fancy structure, but I didn't make any particular effort to disentangle them. The best I can say for them is I hope they have learned their lesson.0 -
Well Jarvis clearly had dodgy mates, and they must have been in a position to find that out. They were all intertwined to the point that I just thought of them as a single entity with some sort of fancy structure, but I didn't make any particular effort to disentangle them. The best I can say for them is I hope they have learned their lesson.
Well its unlikely Jarvis knew about it. So again, blaming them for something they couldn't have had any idea about is stupid.
It would be like blaming the manufacturers of Domino's Pizza's ovens because your order is late.0 -
Jarvis run the Yorkshire Building Society Sharedealing Service which I have used several times with no problems“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair0
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Well its unlikely Jarvis knew about it. So again, blaming them for something they couldn't have had any idea about is stupid.
It would be like blaming the manufacturers of Domino's Pizza's ovens because your order is late.
What do you mean they couldn't have any idea about it? They processed every transaction. It would have been easy for them to spot that most deals went spectacularly bad. In addition any tiny effort on their part would have revealed the management of MP had a dodgy track record. I was only processing orders is not a valid defence.0 -
Glen_Clark wrote: »Jarvis run the Yorkshire Building Society Sharedealing Service which I have used several times with no problems
Lets hope they continue to choose to be associated only with highly reputable partners in the future.
LATE ADDITION. Oh dear, looks like they got hooked up with another outfit who are worrying the FSA (as was).
see http://www.fsa.gov.uk/pubs/final/sn-jarvis-investment.pdf
This does say clearly there is no suggestion of any kind of misconduct in relation
to the Firm in the context of any of the matters contained in this Notice
but it also says there are reasons to consider that the pending investors money may be dealt with by ARM (Jarvis's trading partner) in a manner inconsistent with the interests of those pending investors if the money is not protected
To have dodgy partners twice is awfully unfortunate for them.0 -
have you considered that you shouldnt be investing in something you dont understand?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.0
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