Exit With Profits
Exit With Profits
Exit With Profits
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Mis-sold case studies

  
Case Study 1

In 2005 Mr P had taken early retirement. He was advised by his Building Society to invest £20,000 into a with profits bond. He was told that the policy couldn't fall in value and had a guaranteed rate of return. It also offered "instant access". By 2008 Mr P became concerned about his investment when he discovered that a "market value adjustment" would apply to his investment if he tried to cash it - significantly reducing it's value. Whitehall Randall concluded that Mr P had been mis-sold the investment as the risks had not been clearly explained. He received a return of his full investment plus interest.

Case study 2

In 1993 Mr J was advised to transfer £8,000 being the current value of a former employers pension scheme into a with profits personal pension. On consulting Whitehall Randall they considered that Mr J had been mis-sold the arrangement as his former scheme had a number of valuable guarantees that he should not have given up. A calculation was made as to the value of the benefits that had been lost resulting in £42,000 in compensation being added to Mr J's pension fund.

Case Study 3

In 2000 Mrs K received £200,000 as part of a divorce settlement. Despite being risk averse and having a need for steady income she was sold a portfolio of highly risky and volatile investments which plummeted in value. Whitehall Randall established why the investments were unsuitable for her circumstances and that certain FSA rules had not been followed by the advisor. Mrs K received £64,000 in compensation as a result of the advice given.
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