Common Reasons Why Investments were Mis Sold

Author:
Graham Harris
Mis Sold Investment Claims Manager
Date:
24/08/2020

Financial advisors' failure to understand client’s circumstances is one of the main causes of people ending up with the wrong investments. When you were ready to buy a financial investment, it was your advisor's responsibility to find out as much about your circumstances as possible.

If your financial advisor fails to do this then recommends or pushes you to invest in a financial product that isn’t suited to you, you have potentially been mis sold an investment.

For free initial advice call our specialist investment Claims Managers.

Call us on 08002605010 or request a callback and we will help you.

Common Reasons Why a Financial Investment is Mis Sold

Your financial advisor didn’t ask you the right questions

The result is that you could have ended up with an investment product that wasn’t right for you.

It’s your financial advisor’s duty to ask you the right kinds of questions so that they understand what you’re looking for from your investment.

Types of questions they may ask include:

  • How is your overall health and wellbeing?
  • What are your monthly incomings/ outgoings?
  • What are your long term plans for your money?
  • How do you feel about risks?
  • What kind of return are you hoping to see?
  • Are you looking for growth or an income?

You felt pressured to make an investment

You may feel that your financial advisor pressured you into paying your money in to an investment that isn’t suited to your requirements. Although there are strict guidelines given to advisors to avoid this kind of mis selling, it still happens.

Some people can go into an investment with a clear idea of what they’re looking for. Others can have less of an idea and will want more guidance from their financial advisor. It is your advisors job to guide you towards the best kind of investment by getting to know your financial health, your overall goals and your attitude towards risk.

If you feel that you were pushed into buying a financial product that didn’t feel like what you asked for or something that won’t give you the kind of benefits that you’re looking for, you can claim for financial mis selling.

What Can I Do about Financial Mis Selling?

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