How Will I Know if I’ve been Mis-sold an Investment?

Author:
Graham Harris
Mis-Sold Investment Claims Manager
Date:
30/06/2020

Simply, by speaking with one of our financial mis-selling specialists and having them review your investment.

Each investment comes with different risks and it’s important that your financial advisor takes the time to talk through both the risks and potential rewards before you commit your money to an investment.

You don’t need to have lost money to make a successful claim. Mis-selling could make you miss out on returns that you should see.

Whatever your goals, it’s important that the investment that you’re recommended takes accounts for the risks you are willing to take and any future plans for your money.

If you believe you’ve been mis sold an investment, you can speak to one of our Mis-Sold Investments Claims specialists to see how we can help you. We will look through your case information and find out if you are owed compensation.

Get in touch for free initial advice. All claims are dealt with on a No Win, No Fee basis. 

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

What Exactly is a Mis-sold Investment?

It’s an investment that was sold using unsuitable advice or wasn’t the right product to be recommended to you. For example, it could be taking an inappropriate level of risk with your money.  It’s important to understand that there is a difference between a poor performing investment and a wrongly advised one.

If you answer yes to any of these questions, you could have been mis-sold:

  • Were the risks of your investment properly explained to you?
  • Were you told about how much money you could potentially lose?
  • Were any alternatives explained and offered?
  • Did your advisor fully explain how the investment would work and were the charges explained?
  • Did you feel pressured to invest your money?

Most Common Mis-sold Investments

There are many different kinds of product that have been Mis-sold to customers over the years, some of the most common ones are:

  • Stocks & Shares ISAs: Brought in as a replacement for PEPs (Personal Equity Plans). They give you a tax efficient way of either investing a one off lump sum or regular payments.
  • Managed Portfolios: A Managed Portfolio is a collection of your chosen investments being managed by a Portfolio Manager. The risks to your portfolio depend on your own feelings about investing, which should be discussed when you open your managed portfolio.
  • With Profit Bonds: Generally a lower risk investment. A lump sum investment is put into different assets classes, which helps to spread the risk by investing in different things like commercial property or corporate bonds.
  • Investment Bonds: An Investment Bond is a lump sum that’s put into a fund of your choice. The amount you will get will depend on how well the investment performs during the time it’s active. Financial Advisors have been encouraged to sell this kind of product in the past because they came with large commissions and bonuses.
  • PEPs: Personal Equity Plans were replaced by Individual Savings Accounts in 1999. They were good investment opportunities that generally showed good returns. 
  • Open Ended Investment Companies: Open Ended Investment Companies (OEICs) are flexible, medium to long term investments for smaller investors.

What Should I Do Next?

If you have any questions about an investment or you think that you have been mis sold, our helpful and specialist advisors can look at your case and find out if you were wrongly advised on an investment. We can look through your case and work with you and the company that mis-sold you to find a fair outcome.

For initial advice call our Claims Managers

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