FOS sides with Towry on CMC-backed 'bad advice' complaint

Mrs F complained advice she received from Towry in 2007 to take out an investment bond had been inappropriate given her personal circumstances. The adviser had recorded her attitude to risk as medium - matching the risk of the product - however she claimed she was an inexperienced investor and the rating should have been ‘low'. The woman, who had brought her claim through a claims management company (CMC), said the adviser had failed to establish her attitude to risk "in any meaningful way" and had not completed a risk profile questionnaire or fact find. She had claimed as the fact...