AWD Chase de Vere has defended its recommendations as "sound" after it became the latest IFA accused of giving negligent advice on Keydata products by lawyers acting for the Financial Services Compensation Scheme.
IFAonline revealed Law firm Herbert Smith has sent letters of claim to IFAs who invested clients in Keydata - customers who have now received compensation from the FSCS - saying the scheme will pursue the firms for recovery of the money. AWD Chase de Vere confirmed it is one of the firms which has received a letter. All advisers who recommended Keydata products to low or medium risk clients who later claimed compensation, face the threat of legal action and crippling repayments to the FSCS, according to letters sent to other IFAs seen by IFAonline . Patrick Connolly, head of commun...
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