We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Woodford Group Action
mrlegend123
Posts: 194 Forumite
Has anyone joined a legal group yet?
0
Comments
-
To achieve what?0
-
recovery of losses of course.....0
-
Good luck with that
0 -
Why do you think losses should be recovered?mrlegend123 said:recovery of losses of course.....
I know there is a bandwagon of firms trying it and it is possible they could succeed. Hopefully, they won't and it's hard to see why they should but it would be interesting to know why you think you should be compensated for losses resulting in choices you made.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.10 -
As opposed to an illegal group?mrlegend123 said:Has anyone joined a legal group yet?
Various threads asking same thing which you could have a read of e.g.
https://forums.moneysavingexpert.com/discussion/6223767/anyone-else-taking-action-against-woodford-equity-income-fund/p1
https://forums.moneysavingexpert.com/discussion/6207846/woodford-lf-equity-income-fund-class-actions/p1
https://forums.moneysavingexpert.com/discussion/6252193/hl-woodford-fund-class-action/p1
0 -
the fund got locked down...... trapped investors.0
-
That can happen. Especially if you pick a fund with higher levels of illiquid assets. Woodford was known to hold high levels of illiquid assets.mrlegend123 said:the fund got locked down...... trapped investors.
If you used an adviser, you should be complaining to the adviser that they recommended an unsuitable investment. If you did not use an adviser, you took on the responsibility for doing your own research and making your own investment decisions. So, why should you be compensated for your own decision making?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.8 -
As above. I was just keen to know whether you thought Neil Woodford had done anything illegal, and if so what?0
-
Plenty, I should think.mrlegend123 said:Has anyone joined a legal group yet?
There are a good few companies acting for poor Woodford fund investors. If you were an investor with both Woodford and Hargreaves Lansdown, the best option maybe RGL Woodford Litigation as they are also on the case of Hargreaves Lansdown for their involvement.0 -
No law against that, it's an essential function that can protect the existing investors and investments. What specifically is your grievance and who do you think is going to pay you? Our are you just after some compo for your poor decisionsmrlegend123 said:the fund got locked down...... trapped investors.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.7K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.8K Work, Benefits & Business
- 603.2K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards