Think this is the right forum..
Last year my then 60 year old mother came into a small bit of money and went to her bank for advice as to what to do with it. She was advised to invest in the Trilogy II fund. The FA painted a great picture for her, telling her she could take her interest earned every year for holidays etc. and still have her capital intact. Not once did he ever say the word 'risk'. The value of her fund and since decreased a fair bit. She has spoken to the bank about it who are now telling her it's a five year investment. Not once did the original FA mention 'five year investment'. Does she have a case for misselling of this product? If she had know it was a five year investment, she would never have put all of the money into it, leaving her without anything in the interim. As she has said herself, she's 61 now and could be dead in another 4 years. It's coming between her and her night's sleep now.
Last year my then 60 year old mother came into a small bit of money and went to her bank for advice as to what to do with it. She was advised to invest in the Trilogy II fund. The FA painted a great picture for her, telling her she could take her interest earned every year for holidays etc. and still have her capital intact. Not once did he ever say the word 'risk'. The value of her fund and since decreased a fair bit. She has spoken to the bank about it who are now telling her it's a five year investment. Not once did the original FA mention 'five year investment'. Does she have a case for misselling of this product? If she had know it was a five year investment, she would never have put all of the money into it, leaving her without anything in the interim. As she has said herself, she's 61 now and could be dead in another 4 years. It's coming between her and her night's sleep now.