Missold investment and shares claim

ceewash

My elderly father has received a letter from Quickstart claims and a firm of solicitors asking if he wants them to act to get compensation for misselling shares from a company called Alexander David. The letter clearly states they will take 32.5% of the money they get for you. My father does remember dealing with the company but we have no idea how much this claim might be and if it's worth using the solicitor or whether there is an easy way to do it yourself. Has anyone made a successful claim like this? How is the claim calculated? Is it a percentage of investment? What information will we need to do it ourselves? Any advice appreciated.

[Deleted User]

Hi,

a quick search came up with THIS, might give  you a lead.

Keep_pedalling

Tell them to get lost. If your father actually had investments with ADSL then he (or you if you have POA) should contact the liquidator.

https://www.fca.org.uk/news/news-stories/alexander-david-securities-limited-enters-liquidation

Sea_Shell

Before doing anything...do you know what the investment was, or thought it was?  Any paperwork at all?

How much does your Dad THINK he has invested with them, and in what form? 

Did he think his investment was safe until that letter arrived? 

Once you have armed yourself with the information, and you know what £££ are at stake, then you'll have a better idea as to what is worth pursuing (or not), and if you can manage it yourselves. 

ceewash

Sea_Shell said:

Before doing anything...do you know what the investment was, or thought it was?  Any paperwork at all?

How much does your Dad THINK he has invested with them, and in what form? 

Did he think his investment was safe until that letter arrived? 

Once you have armed yourself with the information, and you know what £££ are at stake, then you'll have a better idea as to what is worth pursuing (or not), and if you can manage it yourselves. 

I'm afraid details are a bit vague from Dad. He knows he had dealings with them. I need to see if he has kept any paperwork. he did have a shares portfolio at one time but he has cashed them all in. I need to investigate. And yes I do have POA. Does anyone know how the claim is calculated?

ceewash

Am I too late?

A Bar Date for claims (i.e. a date by which Client Money Claimants must make a claim) has been set for 15 November 2022. Please provide all requested documents to the Joint Liquidators prior to this date.  The documents can be sent via email to ADSLclients@bdo.co.uk or by post to BDO LLP, 5 Temple Square, Temple Street, Liverpool, L2 5RH.

Keep_pedalling

ceewash said:

Am I too late?

A Bar Date for claims (i.e. a date by which Client Money Claimants must make a claim) has been set for 15 November 2022. Please provide all requested documents to the Joint Liquidators prior to this date.  The documents can be sent via email to ADSLclients@bdo.co.uk or by post to BDO LLP, 5 Temple Square, Temple Street, Liverpool, L2 5RH.

Not necessarily, the company may be bust and their creditors out of pocket but if they were holding assets for your father such as shares, funds or bonds they will still be belong to him. Of cause it is possible he sold his years ago the ambulance chasers can’t possibly know this they are just fishing.

if he still had an active account with them you should hopefully be able to find some paperwork relating to it.

[Deleted User]

Hi,

mmm, though if he was still on the shareholders register he should've been contacted by the liquidators at the time.

ceewash

frugalmacdugal said:

Hi,

mmm, though if he was still on the shareholders register he should've been contacted by the liquidators at the time.

He could well have been. I need to investigate this.