The David Aaron Partnership and David M Aaron Personal Financial Planners Limited have finally been found in default of its ability to pay mis-selling compensation so its clients will receive payouts from the Financial Services Compensation Scheme.
The FSCS wrote yesterday to all known precipice bonds claimants of The David Aaron Partnership to explain to them how to make a claim for compensation, says Loretta Mighella, chief executive of the FSCS. “This is a large, complex default and we recognise that investors have been worried about what is happening. However, we can now consider claims against both firms, so there is light at the end of the tunnel,” says Minghella. “Because of the large number of potential claims against these firms, the processing will take some time to complete. However, this announcement should come as a...
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