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Mr and Mrs L were both retired and had decided to sell their home and move into rented sheltered accommodation. Following the sale, they held approximately £100,000 in capital. Their pension income was sufficient to meet regular outgoings such as rent and bills. The purpose of their capital was to fund future living expenses and anticipated medical costs.
They made it clear that they needed an investment offering capital security and a reasonable return, with minimal risk.
Mr and Mrs L attended a meeting with a financial adviser at their bank and explained their cautious approach. Despite this, they were advised to invest £95,000 into corporate bonds and managed funds—both of which carried a significantly higher level of risk than they were willing to accept.
Over five years, their investment dropped in value, resulting in a loss of more than £40,000 from their original capital. The impact on their retirement plans was significant, and they approached us for help.
We took legal action on their behalf, seeking compensation for both the capital lost and the interest that could have been earned from a suitable low-risk investment. After negotiating a settlement, Mr and Mrs L received over £47,000 in compensation.
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After selling their family home, Mr and Mrs A sought to invest cautiously to support their retirement. Their financial adviser recommended high-risk funds—without fully explaining the risks. Their investment dropped in value, but we successfully recovered over £30,000 in compensation.
Mr and Mrs C from Leicestershire asked for a secure investment to fund their retirement. Despite this, they were advised to invest £280,000 into a high-risk bond. When the investment fell in value, we acted on their behalf and successfully recovered £37,500 in compensation.
Despite asking for safe income, Mr S was pressured into a tech fund that wiped out his savings. The bank ignored his risk profile and charged hidden commissions. We secured over £16,000 in compensation.
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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.
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