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Have You Been Mis-sold an Investment or Bond?
Investment mis-selling is when the advice you received regarding an investment has resulted in you investing in a product that wasn’t suitable for you or wasn’t what you were told it would be. Poor investment advice is the recommendation to invest in a product that is not compatible with you or your needs.
Understanding Mis-sold and Unregulated Investment Advice:
Investing wisely is key to securing your financial future. However, the consequences of mis-sold investment advice or falling prey to unregulated investments can be severe, jeopardising your hard-earned money. If you believe you’ve been affected by such practices, you may be entitled to seek compensation.
Common Reasons for Investment Mis-selling Claims:
- Inadequate Advice: You were provided with unsuitable investment recommendations that did not align with your risk profile or financial goals.
- Hidden Risks: Critical information about the risks associated with certain investments may not have been properly disclosed, putting your savings in jeopardy.
- Long & Short Term Lack of Choice: The adviser did not fulfil the duty of care to ensure your financial security for both the long and short term.
it is widely accepted that there are inherently varying levels of risk associated with certain types of investments, your financial advisor has a duty of care to ensure that the proposed investment is sound, and that the recommendation to invest is suitable for your risk profile. They must provide you with sufficient clarity in order to make an informed choice.
There are many different situations that may classify as mis-sold investment advice, but some of the tell-tale signs of investment mis-selling include:
- Your financial advisor didn’t explain the risks of your investment
- You were given inadequate information on how your money would be invested
- Your financial advisor didn’t complete a ‘fact find’ to define your financial goals
- Your financial advisor didn’t provide you with a Suitability or Reasons Why Report fully explaining the reasons for the product(s) recommended
- You were encouraged to take on an investment at more risk than your financial circumstances were prepared for
- You were advised to invest in high-risk and illiquid investments, e.g. storage pods, ethical forestry, carbon credits, overseas property, 10-year bonds, Chinese shares etc
Why Use Us?
At X-Claims, we specialise in assisting clients with mis-sold and unregulated investment claims. Our team of financial experts has a profound understanding of the complexities involved, ensuring your claim receives the utmost attention and care. Here’s why you can trust us to handle your investment compensation claim:
Specialised Knowledge: With years of experience in investment mis-selling cases, we possess the expertise needed to build a robust claim for you.
Success in Securing Compensation: We take pride in our track record of successfully securing investment compensation for our clients.
Client-Focused Approach: Your financial well-being is our priority. We offer personalised support, keeping you informed and empowered throughout the claim process.
What sort of mis-sold investments are claimed for ?
There are many different possible investments that could lead to mis-sold investment claims, with some of the most common investments in the UK being:
| Farmland building plots Storage pods Eco products Ethical forestry Carbon credits Overseas property Chinese stock Overseas investments Hotel schemes (Cape Verde) (Dominican Republic) Car park schemes Forex trading CFD trading |
Unquoted shares Preference shares Overseas property Hotel developments Forestry projects Carbon credits Contracts For Difference (‘CFD’s’) Diamonds Foreign Exchange (‘FX’ or ‘Forex’) trading Green oil Cryptocurrency Offshore Annuities |
What sort of mis-sold investments are claimed for?
There are many different possible investments that could lead to mis-sold investment claims, with some of the most common investments in the UK being:
Farmland building plots
Storage pods
Eco products
Ethical forestry
Carbon credits
Overseas property
Chinese stock
Overseas investments
Hotel schemes (Cape Verde) (Dominican Republic)
Car park schemes
Forex trading
CFD trading
Unquoted shares
Preference shares
Overseas property
Store pods
Hotel developments
Forestry projects
Carbon credits
Contracts For Difference (‘CFD’s’)
Diamonds
Foreign Exchange (‘FX’ or ‘Forex’) trading
Green oil
Cryptocurrency
Offshore Annuities
What Our Clients Say
We have hundreds of happy clients, read their reviews of our service
Successful Claim – Dr K – Aug 22
“I have great pleasure in writing a testimonial for Mrs Lorraine Williams working for X Claims an organisation fighting injustice for clients since 2006. I have known her since we contacted her in March 2019 when we learnt a policy pension taken out by us with Wesleyan was wrongly sold to us in 1997. She is part of a task finish group who investigated and conveyed the information at every step of the way. All this has given me a good insight and knowledge in her capabilities. Lorraine is hardworking, efficient, reliable, confident, has good organisational skills and excellent communication skills. All information given to me was in good faith and explained well keeping to their limitation so not giving their own advice. She is sincere, reliable, considerate, thoughtful, eloquent, attentive, obliging, and trustworthy. She is proactive and focused and I highly recommend her and her organisation to everyone. I wish her success.”
Successful Claim – Dr B – Jan 23
“I was one of many doctors persuaded- via the medium of a free sandwich – to join a Wesleyan freestanding AVC pension instead of buying extra NHS years in the 1990s. I switched to another scheme a decade later but I discovered both were mis-sold, the first by concealing from me the benefits of added years and the second by downplaying my NHS pension prospects on the AVC registration documents. Lorraine, Howard and the X-Claims team were recommended by a colleague who was similarly mis-sold a Wesleyan pension. Looking back, I am amazed at how financially naive we were! X-Claims is a reputable and trustworthy service and secured me compensation for both these pensions. The form filling process was made easy and both Lorraine and Howard provided clear and helpful advice, no doubt honed from decades of fighting complex cases for their clients. For one of the two cases, we went to the ombudsman twice (!) before getting compensation. I have never put in an official claim for anything in my life so this was unfamiliar territory but they were reassuring and sensible. I am happy with the outcome and wholeheartedly endorse their service to anyone wavering about making a claim.”
Successful Claim – Dr R – Jan 23
“Lorraine Williams and her team have proven to be tenacious and patient in making representations to Sanlam and Sun Life Financial of Canada, which has resulted in over £60K in compensation being recovered.
I have recommended X-Claims to a number of colleagues, who are of a similar generation to me, in the 1980s – 1990’s who were heavily pressured and oversold into purchasing Free Standing Additional Voluntary Contributions (FSAVCs) as a way of maximising our pension pot at the start of our NHS Careers.
I thoroughly recommend X-Claims as a relatively stress free way to recoup money that was paid as commission to ‘Financial Advisors’ pedalling their financial products inappropriately to Junior Doctors on NHS Final Salary Pension Schemes.”
Other Types Of Claim
FSAVC Compensation
FSAVC(s) pensions have been mis-sold to thousands of people. If you have an FSAVC it is worth checking to see if you have been mis-sold.
SIPP Pension Compensation
SIPP mis-selling occurs when financial advisers convince pension holders to invest their money into a SIPP scheme that promises higher returns on very risky, (and often unregulated) investments.
Pension Opt Out
An opt-out is where you could have been a member of an occupational pension, particularly a “defined benefit” or “final salary” scheme and you were told to ‘Opt Out’ and purchase a personal pension instead.
Investments & Bonds
Investment misselling occurs when you have received deliberate or misleading advice, where the investment was misrepresented or unsuitable.
Mortgages
Mortgage mis-selling occurs when it is improperly sold to a borrower. Mortgages were only regulated from contracts which were entered into on or after 31st October 2004.
Pension Transfers
You may have been persuaded to transfer out of your original occupational pension scheme into a personal one. Any transfer out of an occupational scheme could be a mis-sale.
Personal / Stakeholder Pension
These types of pensions may have been unsuitable for you if you had the option to purchase added years or contribute to your In-House AVC, and especially if you had no private earnings.
Get In Touch
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