Endowment Misellling
Discussion
Ok took out an endowment in October 1993, paying £81.37 per month and suppossed to achieve £53,550 by October 2018.
Illustration in August 2002 shows that at 4% it would make £28,600 (only just better than sticking the money under the mattress!), at 6% it would make £36,100 and at 8% would make £45,600. Can;t find a later projection at the moment.
Bought the endowment from an Estate Agent, but not the one that sold me my house, was single never married at the time.
Had a firm called Vickers Anderson offering to act on my behalf in seeking compensation. They want £475 upfront, alledgedly refunded if unsuccessful.
What are peoples views on this, should I claim, should I do it myself (if so how?) or shpuld I bite the bullet?
Illustration in August 2002 shows that at 4% it would make £28,600 (only just better than sticking the money under the mattress!), at 6% it would make £36,100 and at 8% would make £45,600. Can;t find a later projection at the moment.
Bought the endowment from an Estate Agent, but not the one that sold me my house, was single never married at the time.
Had a firm called Vickers Anderson offering to act on my behalf in seeking compensation. They want £475 upfront, alledgedly refunded if unsuccessful.
What are peoples views on this, should I claim, should I do it myself (if so how?) or shpuld I bite the bullet?
I had the same thing and complained to the people who sold me the endowment (Took out in late 80's). They put me in touch with the ombudsman...
filled out loads of paper work and had to keep dumb by stating "your records should show this" etc...
They found in my favour and refunded all payments i had made, plus difference from how a repayment would have performed plus compensation.....and i didn't pay a penny for the service....
Check out "which website"
>> Edited by obi on Wednesday 20th April 23:38
filled out loads of paper work and had to keep dumb by stating "your records should show this" etc...
They found in my favour and refunded all payments i had made, plus difference from how a repayment would have performed plus compensation.....and i didn't pay a penny for the service....
Check out "which website"
>> Edited by obi on Wednesday 20th April 23:38
I have just been through a similar experience.
Contacted the financial institution directly, they happily gave me all of the details of the IFA who sold me the policy, and advised me how I needed to proceed to make a claim.
Claim made, and within 12 weeks I had a very satisfactory compensation offer made to me.
It cost me a few (relatively short) phone calls, and the price of a couple of stamps.
Contacted the financial institution directly, they happily gave me all of the details of the IFA who sold me the policy, and advised me how I needed to proceed to make a claim.
Claim made, and within 12 weeks I had a very satisfactory compensation offer made to me.
It cost me a few (relatively short) phone calls, and the price of a couple of stamps.
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