Skandia Investment and Prudential claim ???

steveyt_2

Hi...Just had a follow up call out the blue (must of spoke to someone sometime last year)....

They know that i hold a Stocks and Share ISA at Skandia (now Old Mutual) and also that i hold a Prudential Investment Bond and have since i was about 20....i am now nearly 50.

They say that they can work out whether i was mis-sold these policies (if i could of got better returns etc) and claim on my behalf but obviously take about 50% of any pay out.

My question is.... is this correct ?....i take it they are talking about PPI but thought that was on credit cards, mortgages and store cards etc..... NOT my investments.

Very confused....if anyone could share some light on it i would appreciate it and if there is a chance of a pay out....i will do it myself thank you very much ....lol

Nasqueron

You cannot have ppi on investments, it's an insurance in case you can't make payments on your finance.

If you took out an investment without any advice you can't be miss sold, if you were advised on the sale you complain to the seller if you have proof it was miss sold e.g. you were told it was low risk and it was high. However these sort of issues are addressed by the regulator and compensation is paid directly.

I'd be more worried how these firms got your details especially from 30 years ago

dunstonh

Hi...Just had a follow up call out the blue (must of spoke to someone sometime last year)....

If you did, then it would have been a cold caller you gave info to. The details on these are not in the public domain. The only ones that know are you, the provider, the fund house, HMRC and anyone you told. Skandia have been old mutual for 3 years. So, their [stolen or obtained unlawfully] data is old.

They say that they can work out whether i was mis-sold these policies (if i could of got better returns etc) and claim on my behalf but obviously take about 50% of any pay out.

This is a scam. First of all, no-one knows what future returns will be. This is why the FCA do not allow returns as a reason for complaint.

Also, the Pru bond is pre-regulation.

My question is.... is this correct ?

No. its complete BS and appears to follow a known scam.

.i take it they are talking about PPI but thought that was on credit cards, mortgages and store cards etc..... NOT my investments.

It has nothing to do with PPI as PPI covers debts.

The scam is that they get you to provide them up-to-date details, they rubbish these details and play to your greed. They may or may not put in a speculative complaint but that wont succeed. However, you will at that point, believe what they say about the investments being rubbish and will follow their recommendations whilst they put you in dodgy unregulated investments.

You need to be more careful with cold callers. Most are scammers. This is a scam and it appears to be following the typical format so far.