The FCA doesn’t have an easy job. Imagine regulating claims management companies, financial advisers, pensions, investments, mortgages, bank accounts, loans, credit cards, insurance, finance brokers, and everything in between! It’s an unbelievable burden, and many feel the public would be better served through education rather than heavy-handed regulation.
After all, those who are determined to commit fraud will still attempt it, regulated or not. Sadly, due to the money involved, fraudsters in the financial services sector tend to be smarter than average, and even the savviest consumers can find themselves victims of financial mis-selling.
Just look at how many people were affected by the PPI scandal. Now, it seems that major companies like Black Horse Finance and VW Finance have been guilty of overcharging customers to pay hidden commissions to car dealers. We also see financial advisers moving people’s pensions offshore to bypass UK regulations and placing them into commission-yielding investments – an example of overseas pension advice is detailed in the article here.
The point is, it’s not entirely the regulators’ fault, but most importantly, it’s definitely not your fault if you’ve been a victim of financial adviser mis-selling and need to make a claim.
One positive aspect of regulation in this country is that, even if the company you wish to claim against has gone out of business, you can still recover some or all of your money. For example, if a financial adviser lost your pension money and went out of business before you could make a claim, you may still have recourse.
However, unlike PPI or car finance claims, in cases like the one below, it’s not always clear who is at fault or who offers the best chance of obtaining maximum compensation or redress. That’s where solicitors like us come in.
We gather and review the evidence on your behalf, allowing us to advise you on the best strategy based on your specific circumstances.
The first step is to sign our no-win, no-fee agreement so we can get to work. However, if you’d prefer to speak to us first, that’s fine—just book an appointment here.
