Financial Mis-Selling Claims
Were you misled by a regulated professional or company into purchasing a financial product or service that wasn’t right for you?
If so, and you have suffered financial losses a result, you could be entitled to financial redress or compensation.
Claiming for Financial Mis-Selling
Many people only realise they’ve mis-sold a product years after signing up. Whether it was an unsuitable investment, pension transfer, car finance deal or mortgage, mis-selling often leads to poor financial outcomes and lasting stress.
Customers we speak to often feel a sense of embarrassment for having been mis-sold, blaming themselves for trusting the wrong person or struggling to accept they may have been misled.
It is worth noting that not all mis-selling happens with malicious intent. Often the people doing the mis-selling were not aware that what they were doing was wrong. However, that does not remove their fiduciary duty to you, and it certainly does not mean that you bear the costs for their financial mis-selling.
Solicitors firms like us carry out two primary functions when managing your claims:
- Ensuring your claims is managed correctly to achieve the best possible outcome
- Creating a shield between you (the claimant) and the person or organisation you are claiming against.
The investigations and requests for evidence and information required to build a successful claim can be time consuming. Many people who choose to use third party companies like us, are people who do so because it makes the process simpler on the basis that, if their claim is successful, an agreed percentage of the compensation awarded is paid to the firm that managed the process.
Claim My Loss is run by qualified solicitors with extensive experience in financial services mis-selling claims. We identify whether you’ve received poor advice, were misled, or were sold something that wasn’t in your best interests, and if so take steps to put it right for you.
Common mis-selling complaints typically arise from:
- Inadequate or misleading advice
- Being sold products that don’t suit your needs
- Lack of information about fees, risks or alternatives
- Pressure selling or exaggerated benefits
- Products not aligned with your financial goals
Professional individuals or companies involved in mis-selling may:
- Fail to explain key risks or downsides
- Recommend complex or high-risk products without justification
- Sell you something for their own gain, not your benefit
- Omit crucial information you needed to make an informed decision
- Use technical jargon to obscure the reality of what you were buying
When these behaviours result in you losing money, provided the complaints meet specific criteria, then we can help you pursue the matter against the company involved and if required escalate to the Financial & Pension Ombudsmans, the Financial Services Compensation Scheme or if necessary through Legal Action.
What can you hope to recover with a Financial Mis-Selling Claim?
The general principle of complaints and claims for financial mis-selling are to put you back into the position you would have been in, had the mis-selling not occurred and can include:
- Recovery of financial losses
- Compensation for unsuitable or underperforming products
- Refunds of fees and charges you shouldn’t have paid
- Additional damages in some cases for stress or financial harm
If you feel something wasn’t properly explained, or the advice you got didn’t reflect your needs and you are worried you have lost money as a result, then we may be able to help you.
Financial Mis-Selling FAQs
What is financial mis-selling?
Mis-selling happens when a product is sold without the necessary information, advice or suitability checks. It doesn’t matter whether the product worked, what matters is how it was sold to you.
What are examples of financial mis-selling?
We regularly see claims involving:
- Pensions transferred into high-risk or unregulated schemes
- Investments sold as “safe” that were anything but
- Car finance agreements where key terms weren’t disclosed
- Mortgage deals that weren’t appropriate for the borrower’s situation
How do I know if I have been mis-sold a financial product or service?
You may have a claim if:
- You weren’t given clear, full information about the product
- The product was unsuitable for your needs or goals
- You suffered financial loss as a result
What should I do if I think I’ve been mis-sold a financial product or service?
You could be entitled to compensation.
At Claim My Loss, we help individuals who have lost money due to financial mis-selling, especially in relation to pensions, investments, car finance, and mortgages. If you were given poor advice, not fully informed about the risks, or sold something that was unsuitable for your needs, you may have a claim.
How can Financial Mis-Selling affect you?
Being mis-sold a financial product can have a serious, lasting impact on your finances. You may have:
- Lost money through poor-performing or unsuitable investments
- Ended up with less in your pension pot at retirement
- Overpaid on car finance or mortgage repayments
- Missed out on better options due to bad advice
Many people do not realise they have been mis-sold a product until years later however in some cases by the time they become aware of the mis-selling it may be too late. Therefore, if you have concerns about advice you received in the past, it is worth investigating sooner rather than later.
Making a Breach of Financial Mis-selling claim
At Claim My Loss, we make it easy to find out if you have a valid claim, and if so, help you pursue compensation.
We have successfully helped over 600 clients gain the
compensation or redress they deserved.
How it Works
If you are concerned your financial adviser, pension, investment, car finance or other financial services product may not have been right for you, then you may be able to make a claim for compensation or redress. The process for making a claim typically involves the following steps:
1. Online Sign Up or Phone Consultation
We know financial claims can be complex and intimidating, so we’re here to help you every step of the way. Use our handy claims calculator or ask our AI assistant any questions you may have. You always have the option to talk to one of our claim experts if you prefer.
2. Getting the Evidence together
Don’t worry if you don’t have all your documentation. As regulated solicitors, we can chase in all the documentation relating to your claim from the providers involved, such as contracts, statements, and communications. All you have to do is appoint us to collect this information on your behalf.
3. Submit your Complaint
We will value your claim and then submit a claim to the Financial Services Compensation Scheme or raise a formal complaint to your pension provider, financial adviser, car finance provider or business energy adviser outlining the reasons why we believe you are entitled to compensation or financial redress.
4. Await response
We will provide regular updates and chase your claim through to a final response - you can also check our progress via our online portal. If we are unhappy with the response, we will pursue a claim through the Financial Ombudsman Service or if required escalate your claim to a formal tribunal which means representing you in court.
5. Acceptance of Offer
Once you are satisfied with the level of compensation or financial redress, we will claim the reward and distribute the funds to you via our client account. Claims are often complex and can take time to reach a conclusion. We will always work to achieve the maximum level of compensation or financial redress as quickly as possible.
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