Endowment mis-selling

Julie_P_2

Apologies if this has been asked before, but rather than trawl the whole site I've opted for the quick route

I have written to the IFA that sold our endowment policies (3 maturing this year) and he has advised that we have no claim as, in his opinion, "...the advice complained about was provided well before the implementation of the Financial Services Act of 29th April 1988 and the matter is therefore time-barred ...."

Are claims time barred?

Also, the IFA has advised that he ceased trading on 31st March 2005, presumably I can now go directly to the FSA.

Does any one have any similar experiences?

EdInvestor

Unfortunately, he's right. You have no recourse if your policy was sold by an IFA pre 1988.

But it's nothing to do with timebars, it's related to the regulatory system.If your policy had been sold by a large bank or BS or life company pre 1988, you might still be able to complain successfully.