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

Advisers look to capital accumulation in Q2 2025

Advisers look to capital accumulation in Q2 2025

Interest in inflation protection nudges up

Jen Frost
clock 18 July 2025 • 3 min read
For companies – and their investors – management matters

For companies – and their investors – management matters

'Management, whatever the setting, really is a difference-maker'

Gabriel Sacks
clock 17 July 2025 • 4 min read
'No difference in my view': Reeves LTAF-ISA decree not enough to make platforms offer them

'No difference in my view': Reeves LTAF-ISA decree not enough to make platforms offer them

Retail platforms await further rule change details

Eve Maddock-Jones
clock 16 July 2025 • 4 min read