With PPI now drawn to a close (August 29th 2019) there are new products on the horizon which claims management companies’ are looking into, flight delay compensation, payday loans claims, mis sold mortgages, & one of which is mis sold investments of various types.
Mis Sold Investments & Why This Is So Important
Many of these investments can cause people to lose a fortune in past earnings, savings, future dividends and future income.
Mis Sold Investments can literally destroy peoples’ financial future: this is not the same as being mis sold payment protection insurance, this is an issue which does not just cost money, but can cause losses that many don’t recover from.
An investment of any nature will likely have it’s risks and possibly even drawbacks, however if there are risks which can cause financial losses, this is a potential issue which people should be warned about, and if that is not the case this is a huge concern because it means people are investing (potentially retirement income) into investment product which are high risk, meaning there is a big risk they will be left with a lot less income for their retirement.
Also certain types of investment such as mis sold PEPs (mis sold personal equity plans) are investments which are secured against the individuals’ life insurance payout. Which means if the PEP investment is mis sold and performs badly the results could be disastrous, meaning the individual could lose a large portion of their life insurance, which could be disastrous.
Mis Sold Investments & Claims Management Companies (CMCs)
Claims management companies’ will have been searching for a new claims epidemic after the payment protection insurance scandal has finished, and mis sold investments is certainly a new frontier for the CMC’s to operate in, with SIPPs claims also another item for investigation with peoples’ pensions being placed into questionable investment schemes, some in biofuels, some in foreign land, and many in cleaner energy and property development endeavours.
Why Mis Sold Investments Cannot Be Allowed To Continue To Be Miss Sold
Questions of ethics, also the number of victims of mis selling and the financial damage the epidemic is doing, leaving people without a retirement income in many cases, meaning they have to seek compensation from the FSCS, this drains the public resources along with the economic uncertainty and stress this places on members of the public.
What Can People Do About These Investments?
If you suspect you have been mis sold an investment of this nature you may be able to claim compensation, you can do this with the help of CMCs (claims management companies) and/or solicitors firms
Most claims are carried out on a no win no fee basis, this is due to the fact that the cost to litigate these companies’ or claim with the FSCS for many would not be financially viable..