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£30,000 Recovered for Mr and Mrs S – Mis-sold Pension Investment in Unregulated Fund

Background: Pension Transfer Based on Poor Advice

Mr and Mrs S held pension funds with a major provider worth a combined total of approximately £44,000. They were approached by a financial adviser who told them they could achieve a better rate of return elsewhere. Based on this advice, they were persuaded to transfer their full pension amount into a fund that invested in commercial property.

High-Risk Investment Not Properly Explained

The fund they were advised to transfer into was an unregulated investment, exposing them to a high level of risk. Mr and Mrs S were not made aware of this at the time of the transfer. Had they been informed of the true nature and risk level of the fund, they would not have proceeded. Given their reliance on these pension funds to support their retirement, they could not afford to incur such losses.

Substantial Financial Losses

The value of their investment fell by almost 50%. Facing serious financial implications, Mr and Mrs S approached us for guidance and support.

Legal Action and Successful Compensation

We acted on their behalf and pursued a claim to recover their financial losses. The matter was successfully settled, and Mr and Mrs S received £30,000 in compensation for the unsuitable advice and resulting losses.

 

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