Mis-sold pension - probate question

shewolfroar

Thanks again for the replies:T

The annuity was purchased in mid 2017.

The adviser was 'restricted adviser' status......can a restricted adviser give non-advised sales??

Value protection was available.

Face to face and email/phone communication

Some emails cannot be viewed as the FA company has secure message system

Cannot locate suitability report.

Give me an idea of the reduction a value protection would have on a £1200 a month annuity?

dunstonh

The adviser was 'restricted adviser' status......can a restricted adviser give non-advised sales??

Yes they can.

Restricted means they restrict their advice in some way. It can range from a minor restriction to a wide range of restrictions, including offering a limited panel or even one provider.

All advisers can give non-advised sales. Some of the larger ones have business models built on it. HL for example is a restricted adviser but has a non-advised platform and non-advised annuity arm. There are others.

Cannot locate suitability report.

That only exists on an advised sale. It wont exist on a non-advised sale.

Give me an idea of the reduction a value protection would have on a £1200 a month annuity?

I haven't looked recently but it would be significant. It would also depend on the terms of the value protect. However, 25-30% less income would be in the ballpark.

Did your father have any financial dependents? i.e. your mum?