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Investments

What are investments?

These are things like bonds, equity ISAs, stocks and shares, or other investment backed savings plans where you invest a lump sum or deposit regular savings with a view to getting a return.

Over the last 10 years, thousands of people have invested life savings into products linked to the stock market on the advice of banks and financial advisers. Many of these people have lost significant sums of money.

Choosing where to invest a lump sum or regular savings is an important decision and one of the biggest many of us will ever make. Usually, people making these decisions will do their homework and seek advice from trusted organisations. The FCA guidance states that consumers should receive advice which is "clear, fair and not misleading". Advice should always be transparent and consistent with your goals or needs. If the advice you received was not, you may have a claim.

Mis-Sold Investments

Being mis-sold an investment or savings product is not a straightforward issue. With a mis-sold savings or investment product it may be years before you discover a problem.

Our clients are typically not wealthy people but those who have worked hard to build up large balances, elderly people who have retired and received lump sums or bereaved individuals who have inherited funds. What they all have in common is that they have been advised to risk their savings when it may not have been appropriate to do so.

Reclaim Specialists is here to tell you that you don't have to just accept these losses and that we are here to help. Here's how: if you took advice from your bank or financial adviser and were disappointed with the returns you got from the investment of your savings, you may well have a mis-sold investment claim.

Have you been mis-sold an investment or savings product?

Think about the point at which you agreed to sign up to the product. At the time of sale, did the financial adviser or sales person you were talking to:

  1. Ask you what your attitude to risk was?
  2. Ask you what the objective for your investment was? Were you asked whether your objective was growth or income and what your target value was?
  3. Take you through what you would do as an alternative if your investment did not deliver or perform as expected?
  4. Consider what your investment experience was - i.e. consider whether you were new at this or a seasoned investor who knew what they were doing?
  5. Take you through and discuss alternative products with you?
  6. Explain the advantages and disadvantages and any penalties relating to the product you were buying in full to you? Did you actually understand what you were signing up to?
  7. Discuss the implications of long term investment if your health was poor or you are elderly?
  8. When making the investment, invest a high percentage of your savings and leave you with only a small cash reserve for emergencies?
  9. Give you any advice about repaying any loans or mortgages before you made your investment?
  10. Ask you if you have an emergency fund? This is a crucial part of any investment decision that involves a fixed term investment. There are often heavy financial penalties for accessing the investment before maturity.

If any of the above points ring true for you and you feel that you may have a claim for a mis-sold investment, then get in touch with Reclaim Specialists. If you did not know that you could complain or your bank or adviser has disagreed with your complaint, it is not the end of the road. Talk to us, we may be able to help and put you back in a better financial position.

Even if the company that advised you to take out your mortgage is no longer in business, the Financial Services Compensation Scheme (FSCS) may cover you. This scheme was set up to provide compensation for customers of companies who cannot pay compensation.

What can I do to reclaim mis-sold investments?

You are only going to get one chance to get it back, so it's important that you put your best foot forward. You can either, claim on your own or you can use an expert like Reclaim Specialists to help. We can't guarantee a pay-out for you or get more money than you would if you claim on your own, or that we can handle the claim faster.

What we can guarantee is a professional, straight forward, honest service which is hassle free for you. To see more about who we are, click here. For our contact details, click here .

Whole-of-life policy

What is a whole-of-life policy?

This kind of policy covers savings and life insurance. You pay not only for the life insurance policy but also for the investment forming your savings. It is near impossible to tell what the return on your investment will be and how much of your payment goes towards your insurance policy and how much goes towards your investment.

Mis-sold Whole of life policies

In most complaints we see, the policies that were sold to customers were inherently unsuitable. Usually people only need life insurance for a fixed term, for example, until your mortgage is paid off. Once these commitments end, the policy just becomes an expensive "bonus" on death.

Whole-of-Life policies have a risk associated with the investment element. They are subject to periodic premium reviews unlike other safer and often more suitable savings and life products that are available. The periodic premium review means that if the fund has performed poorly, you may have to increase your premiums or reduce the amount of life cover you took out. The result? You can be left with less life cover than you originally required or you could end up paying massive premiums.

If you have any doubts about an investment or savings product you were sold - or are simply unsure - call us for a fast, free and honest no-obligation assessment.

Even if the company that advised you to take out your mortgage is no longer in business, the Financial Services Compensation Scheme (FSCS) may cover you. This scheme was set up to provide compensation for customers of companies who cannot pay compensation.

What can I do to reclaim mis-sold whole-of-life policies?

You are only going to get one chance to get it back, so it's important that you put your best foot forward. You can either, claim on your own or you can use an expert like Reclaim Specialists to help. We can't guarantee a pay-out for you or get more money than you would if you claim on your own, or that we can handle the claim faster.

What we can guarantee is a professional, straight forward, honest service which is hassle free for you. To see more about who we are, click here. For our contact details, click here .