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Scottish Widows Investments Right/wrong product!
56cheffy
Posts: 485 Forumite
Just got a letter from Lloyds re Scottish Widows investments I have, a pension and an ISA.
It says:
'We have concerns about the advice we gave to some of our customers when they took out SW products.
We need to speak to you as it is important we establish whether the advice was right for you based on your needs and circumstances when you took out the product'.
It was a long time ago..I was looking to invest some surplus money monthly and took the advice of the guy at the bank as I assumed he knew best.
How am I to know that this was the best advice and the right product for me?
When they call me is there a right/wrong thing that I should say to them?
Would be nice to get some money from a bank....:rotfl::rotfl:
Thanks
It says:
'We have concerns about the advice we gave to some of our customers when they took out SW products.
We need to speak to you as it is important we establish whether the advice was right for you based on your needs and circumstances when you took out the product'.
It was a long time ago..I was looking to invest some surplus money monthly and took the advice of the guy at the bank as I assumed he knew best.
How am I to know that this was the best advice and the right product for me?
When they call me is there a right/wrong thing that I should say to them?
Would be nice to get some money from a bank....:rotfl::rotfl:
Thanks
This post was created in an area that may contain nuts!
0
Comments
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These letters go out when there is a failure identified in the processes of some of its agents. It doesnt mean yours suffered a failure. Its just an automatic thing. i.e. they found failures in x% of cases across the company so they write out to all people with a similar product or in the similar date range offering a review if that person has concerns.How am I to know that this was the best advice and the right product for me?
it wont be the best advice as you didnt use an IFA. You used an SW sales rep selling SW products. However, it should be best advice within that limitation.
If you are happy with what is done then say so and dont worry about it. If you have concerns then opt for the review and answer their questions as best you can. Say if you cant remember as its not expected that you can remember everything.Would be nice to get some money from a bank....
I would have thought it was nicer to know they did the right thing for you (within their limitation of being own brand).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 -
Probably, the "savings and investments" forum of this site would be a more appropriate place for your post
http://forums.moneysavingexpert.com/forumdisplay.php?f=17
Do note that no one here is likely (or allowed) to give actual financial advice.0
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