Endowment Shortfall compensation

tazo101

My Endowment is maturing with a minimum 20% shortfall. A company says I can claim for the shortfall due to misselling or something, anyone know if this is possible?

SpiderLegs

No of course it isn’t.

Thrugelmir

You should have been compensated previously. 

Socajam

I kept a close watch on my endowment mortgage and when I realized that there was going to be a shortfall, I changed over to repayment and kept the endowment.
I never once expected to be compensated, because I received my annual statement which showed what I was expected to receive to repay the mortgage.

dunstonh

The endowment issue was something that was big early part of the Millenium.   Although it didn't have a high success rate compared with PPI.   The FCA brought in an allowable timebar that sees around three quarters of all endowments barred from complaint. 

A company says I can claim for the shortfall due to misselling or something, anyone know if this is possible?

Had this company read your reasons why letter and decided that and checked whether you are timebarred or not?  Or are they just telling you that with absolutely no checking of your records whatsoever?

csgohan4

Another facebook ad? Have you looked on similar threads here?

blue_max_3

The compensation was due because they were sold incorrectly. It was not because the investment failed to reach it's goal.
Once it came to light, the institutions changed their sales policies. Failure to reach the target at maturity is not a reason to be compensated.

tazo101

The company "It Is your Money"  said they are the only ones who do this, and it came up on a feed/google ad somewhere (they are spying on us :-) ) 
Supposedly I am not time barred as it only matures this week. I can make the complaint myself but "i can only do it the once and if i get it wrong i have lost the chance for IIYM to get me the huge amounts of compo available"  
I never trust these companies so wanted to see if anyone had any ideas. 
PS they want 42% of any compo, on a no win no fee.

tazo101

dunstonh said:

The endowment issue was something that was big early part of the Millenium.   Although it didn't have a high success rate compared with PPI.   The FCA brought in an allowable timebar that sees around three quarters of all endowments barred from complaint. 

A company says I can claim for the shortfall due to misselling or something, anyone know if this is possible?

Had this company read your reasons why letter and decided that and checked whether you are timebarred or not?  Or are they just telling you that with absolutely no checking of your records whatsoever?

No they didnt read anything,  they just wanted me to sign up and promised me i couldnt do it only them and their 42% fee.

[Deleted User]

They're trying to sign up the simple and feeble-minded to hand over some fees for insurance and letter-posting services.

It's up to you if you put your name down on the list.

davidmcn

tazo101 said:

Supposedly I am not time barred as it only matures this week.

That's not how the time limits work (assuming it's an endowment where you started getting warning letters about the performance years ago).