There is a new danger lurking on the horizon for financial advisers, and this one has the potential to really damage consumer confidence in financial services if the consumer press takes hold of it.
Having pursued endowment mortgage mis-selling as far as they can, claims management firms are now turning their attention to sales of investment bonds, as they believe there are many cases where investors were advised to move out of deposit accounts and into “higher risk products”, which they say did not return the investments expected. The immediate statement any intermediary will rightly make on reading this suggestion is a consumer may not necessarily have been mis-sold simply because the return on investments is not as good as originally anticipated, and the emphasis should of course b...
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