Mr S, a 60-year-old Post Office employee on the south coast, had limited investment knowledge and was risk-averse. He held savings in ISAs and deposit accounts.
He had been a customer with the Defendants Bradford & Bingley for 20 years. They repeatedly asked him to invest money with them. Eventually, he had a meeting with their adviser, and they recommended their product.
He just wanted an income until he received his pension. He stressed he wanted to preserve his capital. He put his £7,000 savings with them into a Technology Fund, but they lost most of his money.
Despite his clear preference for capital preservation, he lost most of his £7,000 savings. The bank failed to disclose commissions and misrepresented the investment risk.
We recovered over £16,000 for Mr S in compensation for lost capital and interest.
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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.
After selling their home, retired couple Mr and Mrs L invested £95,000 into bank-recommended funds meant to safeguard their future. The high-risk nature of the investment caused a loss of over £40,000. We acted on their behalf and recovered £47,000 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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