Goodwin Barrett and Bradford and Bingley shares

A few years ago my mother was given shares in Bradford and Bingley building society when it changed to a bank. It was subsequently taken over by Santander and everyone lost their shares and got nothing for them, despite there being several campaigns to try and get the Bradford and Bingley share holders some compensation. She has just been contacted by a company called Goodwin Barrett, who say they are starting a mis-sold investment campaign to get some compensation for the shareholders who lost all their shares. My mother told them she was given the shares and didn’t buy them, but they are adamant they can include her in the claim. They charge 40% plus VAT of whatever she gets. She’s not sure what to do, so I just wondered if anyone else had been contacted by this company, or knows anything about them? Or has anyone heard from any other company doing the same thing? 

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  • Rubia1409Rubia1409 Forumite
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    dunstonh said:
    despite there being several campaigns to try and get the Bradford and Bingley share holders some compensation.
    ....by people that don't understand about investing in shares.

    She has just been contacted by a company called Goodwin Barrett, who say they are starting a mis-sold investment campaign to get some compensation for the shareholders who lost all their shares
    And how exactly was she missold?

    I suspect this is a misunderstanding.  When they refer to missold investments they are looking to put in complaints about regulated investments.  Not individual non-retail share holdings.  i.e. they can use the regulated complaints process to complain about retail investments.  However, there is no complaints process for share holdings.

    My mother told them she was given the shares and didn’t buy them, but they are adamant they can include her in the claim.
    Generally, the staff at most CMCs on the phones are targeted to get people signed up and are not qualified or trained to know the differences in investments.      It's possible that the person here is mistaken or is desperate to hit this weeks target.
    Wow! That’s quite an abrupt reply! I won’t ask for advice for an 80+ year old lady again! 

    I didn’t say my mother had been mis-sold the shares, that’s what Goodwin Barrett said. I was very clear that she had been given them, as has she been clear to Goodwin Barrett. 

    I advised my mother to be cautious, but as there have been efforts in the past to recover the money that people lost whether shares were no more, I  wanted some friendly advice from others as to whether this was legitimate or not. Not all of us are financial experts! 

    Thank you anyway, I’ll know not to ask for any advice again
  • edited 17 January at 7:08PM
    jimjamesjimjames Forumite
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    edited 17 January at 7:08PM
    Rubia1409 said:
    dunstonh said:
    despite there being several campaigns to try and get the Bradford and Bingley share holders some compensation.
    ....by people that don't understand about investing in shares.

    She has just been contacted by a company called Goodwin Barrett, who say they are starting a mis-sold investment campaign to get some compensation for the shareholders who lost all their shares
    And how exactly was she missold?

    I suspect this is a misunderstanding.  When they refer to missold investments they are looking to put in complaints about regulated investments.  Not individual non-retail share holdings.  i.e. they can use the regulated complaints process to complain about retail investments.  However, there is no complaints process for share holdings.

    My mother told them she was given the shares and didn’t buy them, but they are adamant they can include her in the claim.
    Generally, the staff at most CMCs on the phones are targeted to get people signed up and are not qualified or trained to know the differences in investments.      It's possible that the person here is mistaken or is desperate to hit this weeks target.

    Thank you anyway, I’ll know not to ask for any advice again
    I'm not sure quite what you think is abrupt but I'd reiterate what dunstonh said. It's good information that she should take on board and it's always worth asking for help - bear in mind it isn't advice though - it's comments and feedback.
    Remember the saying: if it looks too good to be true it almost certainly is.
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