Pension

tilly4597

I moved a pension around 2006 from a works pension fund to a wealth management company. Through their bad investment I lost a substantial amount of money. I am going to contact the person who advised me of where to invest my pension and request my file from him. Is there a protocol I need to follow. Unfortunately due to a few house moves I no longer have any original paperwork regarding this pension. Just the company name from where it was invested. Many thanks.

SonOf

Is there a protocol I need to follow.

You put your complaint into the company. Not the person.

The complaints process is regulated and will follow a defined process.

Albermarle

Through their bad investment I lost a substantial amount of money.

It might be worth your while posting a few more details to the forum about how the investments have actually performed between 2006 and today . You should then get some informed comment comparing the results to what would normally be expected .

Linton

One would need to know what the investments were to make a judgement. Bad performance of itself is not a reason for complaint as the advisor cannot control that. What is important is whether the investments were suitable for your circumstances.


PS was this a transfer from a DB ("final salary") pension?

Marcon

tilly4597 wrote: »

I moved a pension around 2006 from a works pension fund to a wealth management company. Through their bad investment I lost a substantial amount of money.

'Their bad investment' - but ultimately the choice of funds was yours, albeit with their recommendations. If the funds were suitable for you (fitted your risk profile etc), then the fact they lost money doesn't mean the advice was bad - simply that your expectations didn't match with the information you provided to them.

As someone else has said, give some more information and you may get some useful input about how 'bad' the performance was.

BobQ

Did you use an Independent Financial Adviser who claimed expertise in pensions?

What kind of pension did you have?

If you have no information about the transaction, does that mean you have no idea what you asked your adviser to do? For example if you said I need to invest the pension in particular sectors that can provide high returns that would not be your advisers fault. What risk did you say you were willing to take?

Dox

tilly4597 wrote: »

I moved a pension around 2006 from a works pension fund to a wealth management company. Through their bad investment I lost a substantial amount of money. I am going to contact the person who advised me of where to invest my pension and request my file from him. Is there a protocol I need to follow. Unfortunately due to a few house moves I no longer have any original paperwork regarding this pension. Just the company name from where it was invested. Many thanks.

Did you pay for ongoing financial advice, or simply move the pension and then just forget about it?

BobQ

Dox wrote: »

Did you pay for ongoing financial advice, or simply move the pension and then just forget about it?

Good point. Alas he OP seems to raise only vague problems and does not want to explain what he did during this major transaction.