Have You Lost Money After Receiving Advice From Sun Life Financial of Canada (SLFOC)?
Background:
Between 1988 and 2008 Lincoln/ Lincoln Financial sold thousands of FSAVCs and Personal Pensions to doctors, Teachers and Government employees. Some of them were unsuitable and you may be due substantial compensation.
X-Claims has a proven track record in successfully winning maximum compensation for their clients and work on a no win no-fee basis with no up-front fees. You can only make a claim once, so using a professionally qualified regulated firm can be invaluable.
Previous names of Sun Life Financial of Canada are; Lincoln, Lincoln National and City Financial (appointed representative)
We have highlighted here some important points, if any apply to you, it is very likely that you have grounds for a claim:
✓ You were not advised that you could purchase added years in the NHS/Gov scheme – Were you made aware of the fact that you could have made Additional Voluntary Contributions to the NHS/Gov scheme?
✓ You were not told you could be worse off with a FSAVC instead of the NHS/Gov scheme alternatives.
✓ You were not told the higher charges of the FSAVC were considerably more than the in-house arrangement.
✓ You were told the FSAVC was better than the NHS alternatives.
✓ Your advisor did not explore and explain the difference in risk between a private scheme and the NHS added years scheme.
✓ You were sold a Stakeholder or Personal pension but had no private earnings.
✓ Even if you had private earnings as well as NHS/Gov earnings you should have been advised to maximise added years before purchasing a Personal Pension.
Professional Advisor Article - FOS Sesame Most Complained About Firm
Citywire Article - Sesame tops FOS complaints list
Mortgage Solutions Article - Sesame advice firm with most complaints
FT Advisor Article - FCA data: Sesame complaint numbers double in a year
Wired - FCA Article - LINCOLN FINED £485,000 FOR MIS-SELLING SAVINGS PLAN
https://www.wired-gov.net/wg/wg-news-1.nsf/54e6de9e0c383719802572b9005141ed/076a01e4e19f6da8802572ab004b792d?OpenDocument
Life Insurance International Article - FSA fines Sun Life Assurance Company of Canada (UK) £600,000
The Guardian Article - Hard-sell firm in a hard place
https://www.theguardian.com/money/2000/oct/07/personalfinancenews
The Independant News Article - FSA launches inquiry into City Financial sales
https://www.independent.co.uk/news/business/news/fsa-launches-inquiry-into-city-financial-sales-635583.html
You do not need to use a claims management company to make a claim
You can do this yourself for free, and if your claim is unsuccessful you can pursue it yourself with the Financial Ombudsman Service.
If your product provider or your financial advisor is no longer in business, you may be able to use the Financial Services Compensation Scheme (subject to their Rules).
X-Claims Limited is authorised and regulated by the Financial Conduct Authority – FRN: 829746
“The service form X-Claims was excellent from the word go. Very friendly and helpful with explanations and advice at all times – an efficient service throughout. Thank you!”
“I would not have attempted to make a claim without their help. Recommended by a colleague. I received substantial compensation. X-Claims were efficient and dogged in negotiating the bureaucracy. Strongly recommend them.”
“Despite what was clearly a complex case, involving mis-selling of FSAVC nearly 30 years ago, and an initial rejection of the claim by the company concerned, X-Claims refused to give up and ended up having to go via the ombudsman in order to resolve the matter. Although the whole process took over 2 years, none of the delays were with X-Claims, but all with the investment company and ombudsman. All emails were responded to promptly and all explanations and requests for information clear. So the expenditure of time on my part, in order to reach the required conclusion, was very modest. Furthermore, when it was clear that the compensation, in terms of the amount finally agreed to top up my AVC pot, would have landed me with a huge tax bill because of incurring annual allowance taxes, they negotiated a reasonable cash payout within a matter of days.”