Unsuitable advice given by Yorkshire & Clydesdale Bank

nickynunes

Hello
My husband and I have both received letters recently from the Yorkshire & Clydesdale Bank advising that they have undertaken a review of advice given to us some years ago (July 2012) in respect of a stocks & shares ISA and have determined that the advice given was unsuitable. As such they have offered a payment to us which they say they have based on comparing what we would have made interest wise if the same amount had been invested in a low risk account of a 1 year fixed rate bond.
We do not know whether to accept the offer as we don't know if its a good deal and is fair or otherwise. Does anyone have any advice on this that they could offer?

Thank you.

dunstonh

It is what it says it is. No haggling, no variations. It is a defined process they are carrying out.

Depending on dates, many of these review cases end up with little or nothing as investment returns have been higher. Some will pay out something though.