stocks and shares isa

stradeypark

I was sold stocks and shares ISA by an IFA circa 2000.I invested £12,000, with two major investment houses, with the investment spread over a variety of companies. Not once did they accrue any profit and in fact cashed them in at approx@ £3000 each a few years later.I was continuously told a variety of reasons for the poor performance, and the Financial adviser changed the companies I invested in, but still no gains!
I realise the risks involved but I was told that many emerging markets would yield 7% etc
My main issue is that the Financial adviser gave me unsuitable advice regarding where to invest, and that he might well be able to sell mortgages, but not trained by the company in the stockbroking business ! His only guide was looking at the results at the back of the financial times! Has anyone else had similar experiences ? Any advice
please. Thanks Peter

eskbanker

Making losses on investments doesn't in itself mean that you were given negligent, or even poor, advice, especially if you consciously accepted the high risk of investing in emerging markets.

If you feel you have some sort of case against the IFA then you'll need to construct it very carefully, taking into account the initial assessment of your objectives and risk profile, together with exactly what advice was given and what you ended up investing in - you may wish to post more details on here as a rehearsal of that argument.

Is the company still going?