Mis-selling & Deception by an IFA. How can I get maximum satisfaction?

atush

Get what you can out of him, then report him to the authority he is registered under.

If you go whole hog for vengeance, you may not get back the money he is willing to pay now. AS you are out of time for a complaint.

bigfreddiel

All my feelings towards IFAs have been confirmed, really sorry to hear about your misfortune, I can't see what you could have done to check he wasn't ripping you off. I guess he just preyed on your ignorance.

Good luck for the future, fj

dunstonh

All my feelings towards IFAs have been confirmed

What rubbish you spout about things you know nothing of.

I guess you don't eat as you have heard about food poisoning. You cant see doctors because of Harold Shipman and never listened to radio or watch TV because of Jimmy Saville... and so on.

bigadaj

dunstonh wrote: »

What rubbish you spout about things you know nothing of.

I guess you don't eat as you have heard about food poisoning. You cant see doctors because of Harold Shipman and never listened to radio or watch TV because of Jimmy Saville... and so on.

Freddie does spout rubbish, but you always react.

atush

bigfreddiel wrote: »

All my feelings towards IFAs have been confirmed, really sorry to hear about your misfortune, I can't see what you could have done to check he wasn't ripping you off. I guess he just preyed on your ignorance.

Good luck for the future, fj

What a load of cobblers. For this IFA to fulfill all your IFA fantasies he would say the complaint is time barred so he owes nothing

BrianBadonde

I just called the FOC. If I hadn't come on here, I wouldn't have known I could speak to them prior to declining an offer, so thanks for that!

Got through to a human quickly & it was extremely straight forward & friendly. We've both registered complaints (wife & myself) & were told that once we return the forms, they should take a week to confirm whether they the IFA has given the OK.

As I said already, what this IFA has done is wilful deception. I know the conversations we had & if I could post up his original letter, you would see it's very clear. Of course I can't prove whether he knew what he was doing when he moved me from GARs, but I'm certain of one thing, his own financial gains were his priority.

I know a few more things about this IFA now. If I'd known what I know now etc....

I'll do all I can to make a complaint to the FCA, then if there are enough others, maybe he'll have to face up to it.

jamesd

Thanks. Please do let us know how it goes, it's very useful to get feedback on results.

BrianBadonde

jamesd wrote: »

Thanks. Please do let us know how it goes, it's very useful to get feedback on results.

I certainly will.

dunstonh

I'll do all I can to make a complaint to the FSA, then if there are enough others, maybe he'll have to face up to it.

The FSA is the Food standards agency. The FCA is the financial conduct authority. The FCA do not handle individual consumer complaints. They will just pass a summary of what you have said back to the firm for them to deal with it as a complaint. However, they are already dealing with it as a complaint. So, its a pointless exercise.

As mentioned, firms have to report their complaint stats to the FCA on a 6 monthly basis. That is what the FCA use as a measure and decide if a firm needs to be looked at closer or not.

I just called the FOC. If I hadn't come on here, I wouldn't have known I could speak to them prior to declining an offer, so thanks for that!

When you made the complaint, you should have been sent a FOS leaflet with the acknowledgement. That is a mandatory requirement.

Got through to a human quickly & it was extremely straight forward & friendly. We've both registered complaints (wife & myself) & were told that once we return the forms, they should take a week to confirm whether they the IFA has given the OK.

Before you get too excited about the FOS, do note that initial telephone team are very friendly and very consumer focused but do not have the knowledge or training. You tend to find what they say is very agreeable.

They are an independent arbiter of complaints. Mainly used where a firm has rejected a complaint and you still disagree with the redress/outcome offered. As the firm have upheld the complaint and have yet to calculate the redress, what exactly are you looking to achieve with the FOS?

bigfreddiel

I like reporting stuff to the FSA, made me chuckle, well pointed out Dunstonh, I bet you hold your head in despair sometimes, and one point if you have a complaint with an IFA, others are available. Cheers fj