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INC Law
INC Law, Solicitor-Advocate
Category: Law
Satisfied Customers: 14904
Experience:  LL.B, LPC, LL.M, Pg.Dip, 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.

Hi,

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 6 months 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.

Hi,

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

INC Law and 2 other Law Specialists are ready to help you
Customer: replied 6 months 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.