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Investment advice warning....!!!
toolman_2
Posts: 23 Forumite
Bad investment advice!!!
Can anybody please help…? My girlfriend was given a lump sum (20,000 euro) payout due to bereavement. This money she did not want to use under the circumstances. After speaking to a friend who is a director of an investment bank she invested the money in two companies. This investment initially made a profit but after a short time the investment started to drop (understandable under the current market conditions). After a period of about 6 months the investment was worth about 17,000 euro. The advice from her friend was to leave it….. Now the investment is only worth 3,000 euro.
I am angry that she has lost this money. But not because of the market conditions but because this is the only money she has…. (No property, no saving, no pension). In my mind the advice should have been to make a safe investment as this is her only money. Is there any chance of the investment going up in value to anything like the original value?
Any advice would be very welcome…..
Thank you
Can anybody please help…? My girlfriend was given a lump sum (20,000 euro) payout due to bereavement. This money she did not want to use under the circumstances. After speaking to a friend who is a director of an investment bank she invested the money in two companies. This investment initially made a profit but after a short time the investment started to drop (understandable under the current market conditions). After a period of about 6 months the investment was worth about 17,000 euro. The advice from her friend was to leave it….. Now the investment is only worth 3,000 euro.
I am angry that she has lost this money. But not because of the market conditions but because this is the only money she has…. (No property, no saving, no pension). In my mind the advice should have been to make a safe investment as this is her only money. Is there any chance of the investment going up in value to anything like the original value?
Any advice would be very welcome…..
Thank you
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