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Mr R received £80,000 for financial losses

80kWixted & Co secure £80,000 compensation for financial losses after negligent financial advice.

Mr R had a pension fund worth over £340,000 and met with a financial adviser to discuss his retirement options. He was persuaded to put the full amount into an investment plan and to draw income at a rate of £20,000 per year.

After the investment had been running for seven years, it was noticed that the value of the fund had decreased by more than the amount being taken for income. Mr R could have used what remained in the investment fund at this point to purchase an annuity. This would have provided him with a guaranteed income of £14,815 each year for the rest of his life. However, the financial adviser persuaded him to remain in the investment.

After another two years, the capital value of the investment had decreased further still. Mr R decided to purchase an annuity due to the continued level of losses being suffered but, by this time, could only afford one which provided income of £10,000 each year. This provided £4,815 less each year than what could have been received had he acted sooner.

We took on his claim and sought compensation for the financial losses he had suffered due to the negligent advice and actions of his financial adviser. We successfully negotiated a settlement and Mr R received £80,000 compensation.

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Case study

  • Mr C received £25,000 after negligent surgery
    25kWixted & Co secure £25,000 after an error in surgery caused by clinical negligence. (more…)

Recent case studies

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Hear our client on BBC Radio Four

BBC Radio Four’s Moneybox programme interviewed our client Hazel Appleyard. We helped Mrs Appleyard to win more than £86,000 from HSBC after it sold her the wrong investments.

News and press coverage

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Wixted & Co Solicitors, 57 Putney Bridge Road, London SW18 1NP. Registered number 06243291. VAT number 788 6929 41.

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