Mis-sold Financial Products Mis-Sold Investments
Many inexperienced investors have fallen prey to their banks own financial advisers who have previously been known to be under pressure to sell the banks very own financial product. If this is you then please contact us today, so we can help pursue a claim.
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We can help you recover your money
If your bank or building society were keen to provide you with investment advice that has resulted in you losing money, then we may be able to help you recover your losses. Please contact us for more information.
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Have you lost money after buying an investment recommended by your bank?
If you did lose money then you are not alone.
Many inexperienced investors have fallen prey to their banks own financial advisers who have previously been known to be under pressure to sell the banks very own financial products in order to meet targets that they had been set. Failure to meet monthly targets could have resulted in being subjected to performance reviews which may have threatened the existence of their job, bonus or other benefits.
Unfortunately, for the unwitting consumer probably when they went to pay in or transfer large sums of money, the banks cashiers may have taken this as a potential sales lead and asked what they were going to do with the money. Does this sound familiar? Has this happened to you?
If your bank enquired as to what they were going to do with their money, and asked if you would be interested in having a savings review with their financial adviser, then you may have been exposed to receiving poor financial advice.
Why could you have received poor financial advice?
Why could you have received poor financial advice? Because of the many of the financial advisers engaged by the leading banks and building societies were tied agents, thus, they could only recommend products sold by their employer. In effect, this limited the product range on offer from the bank, and the advice on offer may have been more tailored to the lender’s products than their client’s needs. In addition, there was the pressure being applied on the financial adviser to meet sales targets.
Many people sought to invest their money in products that carried little or no risk to their capital, yet, often found that the products that the banks had sold them placed them in significant risk of losing money, or not seeing any additional benefit at all. Some investments had been heavily equity based, whilst others may have been in even riskier investments or commercial property based products, which may have been unsuitable for a retail investor.
The major banks including; Lloyds, Halifax, Bank of Scotland, RBS, Nat West, HSBC, Santander and Barclays have all been subjected to claims for mis-selling investments. HSBC was fined £10.5M, RBS/Nat West £2.8M, Santander £12.4M, Barclays £7.7M, whilst the Lloyds banking group agreed to refund approx.£80M to more than 7,000 investors who had bought complex investments believing they were low risk.
I can not speak for the whole organisation but the individuals I have dealt with, and in particular Karolina, have been professional, efficient and focused on getting the job done. When I have had questions they have been answered promptly whilst giving the feeling of being trustworthy. For the work they undertook for me I would happily recommend them.
Why use Lincoln Green Solicitors Ltd to pursue a claim?
If you are one of the many people that have received poor financial advice from their bank or building society then our team at Lincoln Green Solicitors Ltd can help. We pursue all claims of this nature under a “no win no fee” agreement, and even if you can’t locate the paperwork we may still be able to help, as we can obtain a copy of your file from the lender that was involved.
For more information call us on 0300 303 3819 or fill in the form on this webpage.
Deal with someone you can trust...
The Solicitors Regulation Authority (SRA) regulates Lincoln Green Solicitors therefore we have high ethical standards....
- Keep you safe.
- Keep your information confidential.
- Put your best interests first.
- Offer a "no win no fee" service in most instances.
We will not…
- Cold call you ever!
- Invite you to a presentation.
- Ask you to buy another product.
- Ask you to pay upfront fees.