Adviser protests force payday loan sales site into overhaul

Laura Miller
clock

A firm marketing hedge fund and pay day loan investments to the general public has bowed to pressure from financial advisers and pledged to overhaul its website after concerns the language it uses sets out to deceive potential investors.

Ledger and Simmons promotes products on its company website that offer high "guaranteed" annual returns of up to 9% a year. A post on its public Facebook page from 11 August 2015 targeted inexperienced investors with the promise that "Many of our products offer ‪#‎GUARANTEED‬ returns far outweighing anything the novice investor may come across." Behind the eye-catching headline figures, however, products promoted to ordinary retail investors with names like Guaranteed Return Plans and Guaranteed Investment Plans are found to invest in what can be risky alternative investments includin...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Partner Insight: Debt, deficits, and market resilience: Is your portfolio prepared?

Partner Insight: Debt, deficits, and market resilience: Is your portfolio prepared?

The world is awash in debt. In the US, government borrowing has surged past 100% of GDP, and the fiscal deficit is at a level typically seen in wartime. Other major economies are in similar situations. So, what does this deluge of debt mean for markets?

Orbis Investments
clock 15 May 2025 • 5 min read
Three Invesco funds fail to deliver value to investors

Three Invesco funds fail to deliver value to investors

Manager's annual assessment found some poor performance

clock 14 May 2025 • 2 min read
Darius McDermott: Old demographics, new innovations — so why isn't healthcare booming?

Darius McDermott: Old demographics, new innovations — so why isn't healthcare booming?

'The sector should be flying — but it isn't'

Darius McDermott
clock 08 May 2025 • 5 min read