General Portfolio/Gan/Windsor Life Miss Sell

Kim_and_Derrick_Williams

Wonder if anyone can help me. We took out a managed services endowment in 1990 for 52k with General Portfolio. It has 7 years left and now we are being told that at maturity we stand to get a big fat zero. When we were sold Managed Services we went for the lesser growth as we were told it would be more secure and that GP would monitor our policies every 6 months and any changes in interest in any of the areas our money was being used would result in GP moving the funds to ensure we did not lose out.

Has anyone else been mis-sold and taken GP/GAN/Windsor Life to task and won? We are going to lodge a mis-sold claim with them, but if anyone has any advice on how we can do this to maximise our claim, it would be greatly appreciated. I have also received all documents from them by requesting full access under Data Protection Act.

dunstonh

I have also received all documents from them by requesting full access under Data Protection Act.

Thats lucky as they dont have to supply it in the event of a complaint.

It has 7 years left and now we are being told that at maturity we stand to get a big fat zero.

Is this a UK endowment? Is it even an endowment and not something else as the only way to get zero is for every single investment held to go bust. That is virtually impossible (unless you only hold one investment). Also you didnt typically get discretionary management within an endowment. You tended to get unit linked funds or with profit funds.

What you describe sounds more like discretionary management but there are inconsistencies in your information which make it hard to know what you have and what the problem was. Can you give some more info.

Also, you should be aware that if this is an endowment, General Portfolio do operate a time bar and there is a very good chance that would now have expired. Most did during 2007.

Kim_and_Derrick_Williams

I was sending this from work and do not have all the details with me. Will need to research fully at the weekend. We have had a red letter from Windsor Life giving us until July to complain. does this mean the time bar from General Portfolio would not apply?

dunstonh

The time bar is controlled by Windsor now. So you go by that.