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Joshua
Joshua, Lawyer
Category: Law
Satisfied Customers: 25358
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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INVESCO PERPETUAL I sent a query just now regarding my brothers

Customer Question

INVESCO PERPETUAL

I sent a query just now regarding my brother's INVESCO PERPETUAL units just now, but I 'lost the page'. Robert Gordon ([email protected])
Submitted: 3 years ago.
Category: Law
Expert:  Joshua replied 3 years ago.

Joshua :

Hello and thank you for your question. I will be very pleased to assist you. I'm a practicing lawyer in England with over 10 years experience.

Joshua :

I'm sorry to hear that you may have experienced some difficulty. How may I assist you with your query regarding your brothers investment please?

Customer:

My brother lives in Kenya; I live here. Many years ago (maybe as many as 20) I invested some money on his behalf with INVESCO PERPETUAL. Our mother in Kenya is now sick and so my brother wrote to Perpetual last year asking them to sell his units, close the account and send him the proceeds. They sold the units last summer, July 2013 I think it was, but they didn't release the funds because they wanted to verify they needed some documentation from my brother. He sent them a certified copy of his passport and a certified copy of his bank statement. They acknowledged receipt of the documents, but did not send a cheque. When I was out in December of last year we rang them and asked them why we had not done anything. They said the certified copy of passport and bank statement needed to be dated. When I was out in February to see my Mum we got these certified copies (passport and bank statement) dated and sent them to Perpetual by DHL. I am not a party to the investment. My brother in writing authorised me to enquire on his behalf, but Perpetual say that for me to do this we need a power of attorney from my brother. As far as I know they have not contacted either the bank or our solicitor to verify if the information is correct (eg bank statement and passport). How can we get them to send a cheque. Ps. I think Perpetual market themselves as a blue chip investment company, but this is the lousiest service I've had from any bank ever.

Customer:

ACUSTOMER-nhnf8guu- says:


7:32 PM


My brother lives in Kenya; I live here. Many years ago (maybe as many as 20) I invested some money on his behalf with INVESCO PERPETUAL. Our mother in Kenya is now sick and so my brother wrote to Perpetual last year asking them to sell his units, close the account and send him the proceeds. They sold the units last summer, July 2013 I think it was, but they didn't release the funds because they wanted to verify they needed some documentation from my brother. He sent them a certified copy of his passport and a certified copy of his bank statement. They acknowledged receipt of the documents, but did not send a cheque. When I was out in December of last year we rang them and asked them why we had not done anything. They said the certified copy of passport and bank statement needed to be dated. When I was out in February to see my Mum we got these certified copies (passport and bank statement) dated and sent them to Perpetual by DHL. I am not a party to the investment. My brother in writing authorised me to enquire on his behalf, but Perpetual say that for me to do this we need a power of attorney from my brother. As far as I know they have not contacted either the bank or our solicitor to verify if the information is correct (eg bank statement and passport). How can we get them to send a cheque. Ps. I think Perpetual market themselves as a blue chip investment company, but this is the lousiest service I've had from any bank ever.


Joshua :

Thanks - just reviewing your above posts...

Customer:

Hello Joshua,

Customer:

Your Expert has posted some information for you, but is not here in the chat at the moment.

Customer:

Sorry, but I cannot see the information that the expert has posted to me. Thanks

Customer:

Asked Today at 1:48 - Awaiting Customer Action - What customer action are you waiting for? Thanks

Joshua :

Thanks for the above. May I confirm you can read this ok?

Customer:

Yes, thanks

Joshua :

Great thank you. Just posting replies to your query now...

Customer:

Thanks

Joshua :

Invesco must act on your brothers instructions. they are entitled to request satisfactory identification documentation from your brother but from what you say, these have already been provided. If they were not dated, it is reasonable for them to request replacement documentation which is dated however failing to respond to your brother at all is as you say poor customer service.

Joshua :

Do I understand correctly that you have now between you and your brother supplied them with identification documentation which does comply with their requirements please?

Customer:

Yes: they had a list of acceptable documents. The passport and bank statement fell into this category. We had them certified by our lawyer and dated and sent them by DHL when I was out in February.

Joshua :

thank you. On this basis, it your brother will wish to consider contacting them in writing or by telephone as he prefers and demanding a cheque is dispatched without further delay failing which they should consider his correspondence a formal complaint which they should do with under the terms of their formal complaints procedure details of which he looks forward to receiving within 10 days.

Joshua :

if he is not satisfied with the response of Invesco, you can refer his complaint to the financial ombudsman service which has the power to independently review their actions and position and can order compensation to be paid if they find that the service has fallen below the level that is reasonable to expect

Joshua :

your brother will also be due interest on the money since his investments have been sold

Customer:

Thanks Joshua. I've got to get back to work, but if there is anything else my email [email protected] Thank you

Joshua :

a referral to the financial ombudsman is free of charge and the ombudsman's decision is binding upon Invesco though not upon your brother. the complaint can only be referred to the ombudsman once a formal complaint has been completed with Invesco

Joshua, Lawyer
Category: Law
Satisfied Customers: 25358
Experience: LL.B (Hons), Higher Prof. Dip. Law & Practice
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