Judge rejects claim IFA should have 'corrected' pre-2008 crash advice

Judge Andrew Keyser QC ruled the Lloyds Bank IFA gave suitable advice leading to the original investments in 2007, and was justified in not suggesting the portfolio had become unsuitable for the couple once their investments began to fall a year later, at hearings in the England & Wales High Court last month. The IFA, working for Lloyds' Mayfair Asset Management Service, also made the "reasonable" judgement that no immediate decision should be taken to sell the portfolio once its value began to decline, the judge ruled. Philip and Wendy Worthing invested £700,000 in a "balanced" - des...