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Mr and Mrs L received £47,000 after negligent financial advice

47kWixted & Co successfully negotiated a settlement of over £47,000 in compensation.

Mr and Mrs L were both retired and decided to sell their home and move into rented sheltered accommodation. They had around £100,000 capital following the sale of their property and received enough of a monthly income from their pensions to meet immediate rent payments and other bills. They intended to use their capital to fund future increased living costs and medical expenses and therefore required an investment which provided security of capital and a reasonable rate of interest.

They attended a meeting with a financial advisor at their bank and made these factors known to him. He recommended that they place £95,000 into corporate bonds and managed funds. This exposed Mr & Mrs L to a substantially higher level of risk than they were prepared to take. Over a 5 year period they lost over £40,000 on the original sum invested.

We took legal action on their behalf and sought compensation for loss of both capital and interest. We successfully negotiated a settlement of their claim and they received over £47,000 in compensation.

« Occupational disease » Mr W received £56,500 after negligent financial advice

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Case study

  • Mr R received £80,000 for financial losses
    80kWixted & Co secure £80,000 compensation for financial losses after negligent financial advice. (more…)

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