The Financial Ombudsman Service (FOS) has ordered Coutts to pay a couple compensation after the high net worth wealth manager advised them to invest in an unsuitable offshore bond and other investments.
According to the FOS decision, on Coutts' recommendation the couple - identified only as 'Mr and Mrs M' by the Ombudsman - invested £750,000 in an offshore DIMA portfolio (a Coutts discretionary investment...
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