Mint Financial is about to settle a £2.6m compensation bill for giving poor advice on Integrity Maximiser geared traded endowment policies (GTEPs), IFAonline understands.
A group of 24 investors who had their complaints upheld by the Financial Ombudsman last year have been waiting while Mint contested the FOS adjudicator's decision. However the Intrinsic-owned adviser has now agreed to settle the multi-million pound claim without forcing a legally binding Final Decision from the Ombudsman, according to the investors' solicitors Regulatory Legal. A further six investors are still waiting to hear from Mint on their claims for compensation after favourable decisions from FOS adjudicators last year. Ed Stuart-Brown, ex-head of protection at Friends Prov...
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