Financial Dispute Resolution- how can you beat the rogues?
Despite a raft of regulatory changes and recent clampdowns by HMRC on dubious pension schemes we find the same old problems resurfacing time after time in the expat world. Bad advice given by commission hungry self- employed salesman masquerading as financial advisers, often under some loose umbrella arrangement with a regulated firm or operating without any regulatory permission, continues to plaque our industry and to have detrimental effects on the financial well- being of the British expatriate community.
Investments made without any consultation with the client, no account taken of attitude to risk and capacity for loss, funds placed in expensive, illiquid funds many which get suspended with no hope of recovery and a complete lack of transparency over costs and charges, these are scenarios we come across on a regular basis.
How can these issues be resolved? Well it may be possible to pursue these ‘advisers’ through a financial ombudsman or regulator to gain compensation and we can report that we have successfully obtained significant compensation for a number of clients. It won’t work in every case and is a time consuming and lengthy process; gathering evidence, processing claims and appearing at hearings etc.The first step and often the biggest is to admit there is a problem, the second is to take action. Find out how our Financial Dispute Resolution service can help you. Call +350 200 50982 for a full and frank discussion about your problem.