Mis-Sold Shares

thenewcomer

if the company is happy to pursue this for you foc (if you lose the case), then yes, go ahead.
if not, then no. leave it.

thenewcomer

most financial advisors are also employees. if they are so great, they would have set up their own companies or become full-time private investors. mostly do not invest in what they advise others to buy.

why would they be pursuing a 9-5 job? you get what i mean?

Paul_DNAP

thenewcomer wrote: »

if the company is happy to pursue this for you foc (if you lose the case), then yes, go ahead.
if not, then no. leave it.

They appear to be a no-win no-fee brigade...

We do not charge upfront fees. We only charge a success fee of 30% inc VAT if you receive compensation.

Wassa123

Pretty sure most advisers make you sign some sort of waiver anyway.

When I saw my mortgage adviser, I had to sign a "this is my decision to take on a mortgage" document.

dunstonh

Pretty sure most advisers make you sign some sort of waiver anyway.

No. The FOS take no notice of those. Consumers cannot waive away their rights when are not in a position to know what they are waiving away.

The only time disclaimers are used are execution only cases (confirming the case is execution only and the consequences) and insistent client cases (where the report says the advice is one thing but the person says they wish to override the advice).

For normal advice events, no waiver/disclaimer is used.

However, do remember that the OP is talking shares. Edward Jones operated a multi-tie product range using only packaged products. Not shares. So, advice never happened. At best it was a man-down-the-pub style chat. There was probably an initial meeting. The OP was talking shares rather than things within the remit of the Edward Jones rep (all advisers have had this) and the rep probably just humoured him until he could get out of the door.

HappyHarry

However, do remember that the OP is talking shares. Edward Jones operated a multi-tie product range using only packaged products. Not shares.

Sorry to correct you dunstonh, but Edward Jones reps used to be able to advise on a multi-tied range of structured products and OEICs, and a limited range of UK and US shares, including Vodafone.

dunstonh

HappyHarry wrote: »

Sorry to correct you dunstonh, but Edward Jones reps used to be able to advise on a multi-tied range of structured products and OEICs, and a limited range of UK and US shares, including Vodafone.

I wasnt aware of that. How weird that a multi-tie would include shares. Was that on full advice basis or more a facilitation of what an individual may ask for? (i.e. would they do a FF and suit report for a share purchase)

However, it is still well and truly past the point that allows timebarring.

I took a quick peek at the FOS decisions to see if anything similar has gone before and there were only 4 ombudsman decisions regarding edward jones and one regarding shares.

One of our adjudicators investigated Mrs K’s complaint and reached the conclusion that it
should not be upheld. In summary, she said:
<snip>
The advice was only a recommendation of what Mrs K could do with her shares, she
was not obliged or forced to follow it.