We have helped many people reclaim mis-sold pensions and investments. These are just some examples below.
10 Year Savings Plan
A client of ours took out 3 Allied Dunbar 10 year savings plans for his 3 children, which matured a few years ago. After reading our ad he approached us to see if anything could be done. We obtained the sales documentation from Allied Dunbar and found the sales to be fundamentally flawed. Allied Dunbar offered to refund the premiums with interest less what had been paid. The offer was around £15,000.
However, the interest rate they were using was not correct (in our opinion) so we took the matter to the FOS and they agreed with us. Allied Dunbar’s revised offer was £20,000.
Having reviewed the client’s other plans we managed to secure a further £75,000 for him, which he was not even expecting.
Whole of Life Plan
We have recovered a lot of compensation from companies who sold these plans to people who either did not have the means to fund the premiums in the first place or going forward because of premium reviews. Compensation can be substantial because it involves a refund of the premiums plus interest less the surrender value, which can be small. In some cases it is plainly inappropriate to have a unit linked Whole of life policy to serve a particular need such as inheritance tax planning.
A client of ours was delighted to receive redress from Zurich totalling £91,876.
Another client of ours was sold a pension mortgage with Abbey Life in 1989 and was offered £41,000 in compensation.
Endowment Saving Plan
We have secured compensation in many cases such as these and a client of ours was delighted to receive nearly £8,000 from Abbey Life for a plan that was sold to them in the mid 1990’s.