Exit With Profits
Exit With Profits
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Can you get compensation on your with-profits plan?

 
There is considerable evidence that many people were sold with-profits plans incorrectly.?

This statement covers all types of with-profits plans, including pensions and with-profit bonds.

In brief if you have one of these plans you may need to consider if you were sold the plan most suited to your requirements and circumstances. Often a with-profit plan was sold to an investor even where they had stated that under no circumstances were they prepared for any risk or to suffer any penalties. Even where the investor was prepared for some risk it would have been incumbent on the adviser or salesman to make it clear what the penalty position could be on their plan if things didn’t work out well. Often these penalties were not made clear, often not mentioned at all.

Any advice should have matched the product (in this case with-profits) to the investor’s requirements and situation. It appears there may be many thousands of cases where this didn’t occur. In particular we believe banks and other direct sales people (for example insurance company reps) simply stacked up the product and sold it out to their customers almost regardless of circumstance.
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The information on this website is to be viewed as general information and does not constitute advice. Views and opinions expressed are those of the individual contributors. Individuals reading the site should not rely on any of the information contained within the site in making any decisions. DMP Marketing cannot be held responsible for any liability suffered by any individual as a result of information contained within the site. In the event that advice or help is required then independent advice should be sought from a regulated independent adviser.