Any way to try and claw back my bad investment choices/don't laugh please.

hachiman_2

I have a private personal pension and 2.5 years ago I was only in Fund A. I then looked at the last couple of years performance of alternative funds and although Fund A was good, Funds B, C and D had done better. So I switch 75% of my investment out of Fund A and put 25% each into Funds B,C and D. Putin invaded the Ukraine in early 2022 and there has been a cost of living crisis so all funds dropped by up to a 3rd each. I decided to wait and see if things would get better, but 2 years later the value of Fund A is now higher than when I switched out of it 2.5 years ago, and Funds B,C and D are lower. I’ve worked it out that if I had not did the switch out of Fund A back then, my pension would be worth £43,000 more than it is now. I hold my hands up and say it was me. I was unadvised and did this all myself. Hindsight is a wonderful thing, but back then I thought I was making a good decision. This is on my mind constantly and is messing with my head.

I know this was my own doing and I and I am responsible, but is there any legal or financial services action that I can take against my pension company for myself not understanding the risks, the level of loss etc? Not blaming the company at all, but I am just asking is there is any way or do I just learn from the experience? Much appreciated.

jimjames

hachiman_2 said:

 but I am just asking is there is any way or do I just learn from the experience? Much appreciated.

Just learn from the experience or pay an IFA to manage it for you so you're not tempted to do the same again

steven333

I'm sorry to hear that. 

Like you said, hindsight is 20/20. We don't really know anything about these funds, were funds B, C and D purportedly higher risk than Fund A?

Worth saying I have no idea what recourse you have if any. 

MeteredOut

Legally, no chance. You'll have seen "prices can go down as well as up" and agreed to it.

Morally, I'd be embarrassed to even ask. Hopefully you're still young enough for Funds B, C and D to rise again. I'm sure your head might be telling you to dump these funds now; make that decision from a position of knowledge and calm reflection, not because they've dropped and they might feel a bit toxic to you now.

Marcon

hachiman_2 said:

I hold my hands up and say it was me. I was unadvised and did this all myself. Hindsight is a wonderful thing, but back then I thought I was making a good decision. This is on my mind constantly and is messing with my head.

So why do you feel anyone else has any responsibility?

hachiman_2 said:

I know this was my own doing and I and I am responsible, but is there any legal or financial services action that I can take against my pension company for myself not understanding the risks, the level of loss etc? Not blaming the company at all, but I am just asking is there is any way or do I just learn from the experience? 

But you are seeking to blame the pension provider for your own lack of knowledge and poor decisions. Why do you feel it's their fault rather than your own? That old chestnut of 'past performance is no guide to future performance' is a mantra known to most people, but you chose to disregard it.

Albermarle

You will not be the first or the last investor, to switch funds and wish they had not. I have done it several times, luckily the hit was not so large, and also balanced out by switches that ended up more positive.
With different market conditions it could have gone the other way.

 Hindsight is a wonderful thing, but back then I thought I was making a good decision. This is on my mind constantly and is messing with my head.

It sure is. You are bound to be fed up about it but at the end of the day nobody has died. It is not as you have fallen for a scam and lost everything.

As a positive move forward, suggest you post up the Funds involved and you should get some informed comments.

Hoenir

All water under the bridge. Chalk it up to experience. 

dunstonh

I know this was my own doing and I and I am responsible, but is there any legal or financial services action that I can take against my pension company for myself not understanding the risks, the level of loss etc?

Pension providers take instructions from you or your financial adviser.  They have no liability for your actions.

Not blaming the company at all, but I am just asking is there is any way or do I just learn from the experience?

You do appear to be blaming them as you have asked about taking legal action against them.

The bottom line is you bypassed the channel that gives you consumer protection and decided to DIY.   DIY means you take on the responsibility for your actions.

ProDave

Please name all the funds, otherwise nobody can really comment.

Ibrahim5

An IFA could easily have done the same and you would have lost even more paying their ridiculous fees.

artyboy

I had a few too many pints last night. Could I perhaps sue the pub for the distress I felt this morning?