Adviser Philippa Gee has said she has taken on more clients in the last six months who have suffered past mis-selling than she has come across at any time in her 20 year career.
Examples of poor advice include recommendations to invest in investment bonds exposed 100% to property, traded life settlements, and unregulated collective investment schemes (UCIS) in overseas property, the director of Philippa Gee Wealth Management, said. Some cases involve investments made at the height of the investment boom just before the banking crisis in 2008, which investors are only now realising were unsuitable. However others are more recent, and look like examples of advisers trying to gain high commissions before the ban comes in on 1 January 2013, Gee said. "It is a ...
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