"One of the UK's leading specialists in financial mis-selling…"
The Times
Tim Wixted of Neglect Assist tells Private Client Adviser that the new annuities market announced in the 2015 Budget could create as many problems as it solves.
If the stock market crashes, retired people would be left in a disastrous situation – they can’t wait five or ten years for markets to recover.
Mr Wixted told the publication, “Besides the problems from pension mis-selling, moving out of an annuity means their income stops being stable and starts being more unpredictable. For instance, many funds are ultimately linked to equities, so if the stock market crashes, retired people would be left in a disastrous situation – they can’t wait five or ten years for markets to recover,” he explains.
Mr Wixted adds: “We are not a nation of savvy investors, and our research shows the vast majority of middle-aged and retirement-aged people do not understand even basic financial terms. This is unlikely to change, as very few people are even willing to spend a few pounds on an investing guide – under 4% according to our research, compared to 24% who would primarily use the internet for free advice.”
You can read the full article here –
http://www.privateclientadviser.co.uk/news/pensions/pensions-allowance-cut-250k
Answer a few quick questions and request a free callback. Our team will contact you for a no-obligation chat and explain the next steps.
The Daily Mail reported on Neglect Assist’s role in securing £75,000 compensation for a 75-year-old pensioner from Lloyds Bank in a mis-selling case. The article questions why the bank pursued legal action while owing the client a substantial sum.
Neglect Assist’s Tim Wixted spoke to The Times about a retired shop manager who lost £260,000. He warned that new freedoms are attracting misleading investment schemes, especially those advertising “guaranteed” returns.
David Budworth’s Times column cites Neglect Assist’s research showing that 23% of savers plan to keep pension funds in the bank, exposing them to inflation risk and poor long-term returns.
Provide your details to start your free eligibility check. You’ll be guided through a few short questions so we can direct you to the right specialist and assess how we can help.
You do not need legal representation to make a financial services claim. You can complain yourself at no cost and under FCA rules, the financial services provider must provide a response. If you feel this is unsatisfactory, you can complain to the statutory redress bodies, the FOS and FSCS who can award you compensation. This is a free service.
The information appearing within this website does not constitute legal advice and is provided for general information purposes only. No warranty, whether express or implied, is given in relation to such material, and we do not accept any liability for reliance on it.
Neglect Assist is a trading style of Wixted & Co Solicitors which is authorised and regulated by the Solicitors Regulation Authority (SRA) A copy of the SRA handbook can be obtained from www.sra.org.uk. Wixted & Co Solicitors, 57 Putney Bridge Road, London SW18 1NP.
Registered number 06243291. VAT number 788 6929 41.
© 2025 Wixted & Co Solicitors