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chatham-chamber, Advocate
Category: Law
Satisfied Customers: 13418
Experience:  LL.B, Pg.Dip, LL.M, M.B.A (Pending), Solicitor-Advocate. UK Practising Certificate issued by SRA., DIFC Courts Registered (Dubai)
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I would be most grateful for your advice please. 10 years

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Hello, I would be most grateful for your advice please. 10 years ago, I arranged what I thought was a savings plan. Now, expecting a return for my investment, I discover that there is no 'pay'out' so it has simply disappeared into the atmosphere. I was told that there is nothing forthcoming for me so at the end of 10 years of having paid in £50+ each month throughout, all is lost. I didn't die so it is absolutely shocking to discover that all is lost. The arrangement was that I named my son and (then) second husband as the beneficiaries should I predecease them. I really thought this was going to be a small 'comfort-blanket) as I will become 80 years old on 12th September 2020 but there will be no end result for me. Perhaps you may understand what a shock this is. I don't doubt that the person arranging this for me in the first place thought he was doing his best for me but in the event, it was my 'old-age' I was looking to boost my old age pension, whilst also ensuring that should I pass away, my son would receive the result of my savings. Now I see that it was a good plan but not precisely what I wanted. I have heard from the company but the is no pay-out, I didn't die so all is lost. I am distraught. Do you possibly have any advice for me please. I understand that the Fidelity, the company put my money in certain funds including Stocks, Shares and ISA. Is it right and proper to have made a profit from my investment at no cost to themselves and then cut me off without a penny? Many thanks
JA: Where are you? It matters because laws vary by location.
Customer: I live in Stapleford, Nottingham
JA: What steps have you taken so far?
Customer: I have written to the original Company (Bright Grey) but is seems that they are now included in Royal London. I can not find anyone to help me and it seems so wrong.
JA: Anything else you want the Lawyer to know before I connect you?
Customer: Some years ago, I was the Regional Chairman of the Federation of Small Businesses whilst I lived in Wiltshire and it was a reputable fello member who arranged this for me. He is not retired but is still an advisor with and for R0yal London, maybe others, I don't know.


Thank you for your query. I am sorry to hear of your troubles.

Have you reported the matter to the financial conduct authority?

Customer: replied 11 days ago.
No, I do not doubt the integrity of the person who arranged it for me, he and his wife were friends of mine when I lived in Wiltshire. I doubt that he would knowingly sold me the wrong package. I believed that at the end of term, there would have been a pay-out for me.


Unfortunately, it would be difficult for me to say without seeing the documents.

If you do not believe that the product was mis-sold to you, your next port of call would be to have the agreement you signed reviewed by a solicitor of financial adviser. Once you have done this, you can decode what further action to take.

I hope this answers your question. If so, kindly rate the answer and provide feedback.

If you have any further questions, please do not hesitate to ask.

Many thanks

chatham-chamber and 5 other Law Specialists are ready to help you
Customer: replied 11 days ago.
Tried to call you but no luck! The person who arranged this for me is now an adviser in his own right. As I said, it is not what I expected, nothing to show now for 10 years savings and he has all the protection of a governing body and they appear to have close ranks.