Adviser to compensate client after delay to escape Covid market volatility

The client, Mr S, claimed he experienced a delayed reaction that resulted in his investments falling further in value. In this unusual case, the ombudsman has ruled that, due to a mismatch between the valuation of Mr S's investments shown, and that of the insurance company, Mr S was provided with an inaccurate picture of the state of his investments when he sought the guidance of his adviser on 25 February 2020. The picture painted to him, the FOS ruled, conveyed his investments were in better shape than they actually were, though his adviser 2 Plan was unaware of this.   The 2 Pla...