FOS rules against AWD adviser in £80k Keydata pensioner case

The then-80-year-old man and his 77-year-old wife were recommended to invest £79,684 in a seven-year Keydata plan in 2007, after scoring four out of ten - or cautious to moderate approach to risk - on a risk rating. According to the FOS, to a professional financial adviser, the Keydata investments "would not and should not have been suitable for a cautious to moderate risk investor". "Indeed, given what was known, or should have been known about Keydata investments by the IFA at the relevant time, I have real doubt - given the opaque nature of the investments and the significant uncer...