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Bad financial advice
Comments
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What do you mean by CMCClaims management companies. They are not solicitors (not regulated by the SRA) but regulated (only of last year) by the FCA. They don't require any qualifications.
Generically, some CMCs can make money on a case without it succeeding. Often to make up numbers to make their portfolio look more attractive to investors in litigation or to sell as a bundle to solicitors.I'd need to look again at the other funds. I think one was Aberdeen and one Jupiter.If they do look at the complaint, the details of all the funds will be an important detail. e.g. 50% in fixed interest, 45% in conventional equities and 5% in tech funds would not be considered at all high risk. Whereas 50% in tech funds would be. The devil is always in the detail.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
I find it amazing dunstonh that you have had only 3 complaints in 25 years, that really must be testimony to your professionalism.
My only experience with an F A (I believe he was independent) was disastrous. Now that I know a little, I recognise the stupidity of his advice. Fortunately his written report was just as stupid as one of three recommendations was called low risk equivalent to having money on deposit at the bank. It lost 80% of it's money and I got that money back after complaining. I don't think the advisor was depressed by the experience, he moved companies and wrote to me from his new company attempting to renew our relationship
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Did you tell him where to put his investment advice?newatc said:I find it amazing dunstonh that you have had only 3 complaints in 25 years, that really must be testimony to your professionalism.
My only experience with an F A (I believe he was independent) was disastrous. Now that I know a little, I recognise the stupidity of his advice. Fortunately his written report was just as stupid as one of three recommendations was called low risk equivalent to having money on deposit at the bank. It lost 80% of it's money and I got that money back after complaining. I don't think the advisor was depressed by the experience, he moved companies and wrote to me from his new company attempting to renew our relationship."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Lots of people receive awful advice but never complain. It's all a bit random.0
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