Endowment - am I too late - need advice

Ian_W_7

Hi,

I may be too late anyway?

If not - I honestly do not know who to approach.

I was sold my edowment by an independant recommended to us by the halifax.

The guy concerned sold it to us advising us to go 40 years instead of 25 - which we did - however he was then done for fraud and was dealt with by the courts. I can't recall if he went to prison, but it was in the newspapers here locally. We are talking about almost 20 years ago.

The paperwork was then taken over by the Halifax so we could push the mortage through. But they did not really sell it to me as such.

My endowment is with Standard Life.

I can clearly remember being told by this guy to go for 40 years as a) the monthly payments would be less and b) it would leave me with a very decent payout just before I hit 65 for me to enjoy in my retirement for verty little outlay.

So where do I start - as I have no idea who originally sold us the endowment.

We can't take any action on my wife's policy's - as they (an original policy then a small top-up one) were done through here sister's bank - and it would be unfair to take action against her. Although in all cases we were told it would pay off the mortgage.

Thanks.

EdInvestor

Hello Ian,

Ask the insurance company who sold you the endowments. There is no need to worry about your sister or her bank, complaints have no impact on individual employees.

Look at this website for advice on how to complain:
https://www.endowmentaction.co.uk

Ian_W_7

So that would be Standard Life? But surely they didn't sell it - it was the person who was then doen for fraud.

Sorry if I am being thick here.

Thanks.

EdInvestor

Ian

He might have been a "tied agent" and thus technically working for Standard Life and the same is the case with the bank. BTW the fraud question is irrelevant.