The Financial Ombudsman Service (FOS) has sided with a client, who complained Abbey Financial Services had misled her in the course of her attempt to move her personal pension investments into cash.
Mrs H, in her 60s but kept anonymous by the ombudsman, said that concerns over a potential outbreak of Covid-19 in February 2020 led her to the decision to move her invested personal pension into a "wholly safe holding like cash". She had transferred here occupational pension into the personal pension in 2019. The decision is among a number of recent cases where a client has complained their adviser did not let them disinvest in the run-up to the pandemic over volatiliy concerns, that have made it to the ombudsman's door. The Financial Ombudsman Service (FOS) recently sided with St J...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
