Fred had sadly lost his wife and was in the bank when he was approached by the staff to see an adviser due to his substantial balance. He had received a payout from his late wife’s insurance policy and had paid this into his account.
Fred was obviously still grieving at this time and when he saw the adviser he was also suffering from other health concerns. Being under the impression that his money was secure, Fred went ahead and invested some money with the adviser, as he was off work on long term sick, he opted to take an income from his investment.
Some years later, Fred realised that his investment had substantially dropped in value and was very concerned. He saw an advert for our services and contacted us to see if he had cause to complain. We assessed Fred’s case and felt that he had been mis-sold his investment. Fred was not told that his income was a return of his capital and there were other issues which gave cause for concern.
After we sent a detailed complaint to Halifax, Fred was delighted to receive £6,916 from the bank in a matter of weeks.