Have I been missold?

shedboy52

Hi

I was in a final salary scheme and when I left the company I was advised to transfer my pot to a personal pension plan which has turned out to be rubbish. I complainned to the IFA who said I was out of date as a review had already been done. So I complained to the omsbudman who agreed I was out of date. I was advised I could start legal action.

So thats what I want to start but who is the best solicitor in this field who can review my documentation and approach the IFA?

Any help would be much appreciated.

dunstonh

Transferring out of a final salary scheme into a personal pension is not necessarily bad advice. There are times it is valid.

If you plan to complain or go to court to complain about investment returns then stop now. It will be thrown out. There is also a chance that legal action has timed out as well. Courts work with time bars as well.

Legal action rarely wins. It does sometimes but there is a greater onus on you to prove mis-sale and documents that the FOS would normally ignore in a complaint would be considered by the court. So, if the documentation carries the risk warnings then you going to have to have some evidence to support your side. Most final salary pension scheme transfers are put through a calculation known as a TVAS before a recommendation is made. This data often decides whether you should transfer or not. So, again that evidence will work against you assuming it supports the adviser (which you would expect because if it didnt they wouldnt do it).

Your final salary pension transfer was reviewed and the review identified no mis-sale. So, why did you not complain about that outcome back then? No doubt this would be raised in court.

And finally, if you fail, you will be responsible for costs. Dont expect it to be cheap. You seriously need to consider your chances of success and the documentary evidence you have to support your case.