Many ordinary people have recently discovered that they may not have the nest egg that they’d planned for in their retirement. Having put away regular monthly installments into investments and other savings plans, people have now discovered that these investments could be worth a lot less than they’d been led to believe. Mis sold investments are likely to cause a lot of heartache
and financial difficulty in the years to come, as people have to come to terms with the fact that they might not have sufficient money for their retirement and they could well have to rethink their plans for the forthcoming years.
With the issue of mis sold investments now coming to the fore, there is some hope for people who were given inaccurate information when they signed up to long-term investment plans. Compensation claims are being investigated and there is at least some hope of recompense for those who genuinely took out investments based on misleading information. Many people put away regular savings for their retirement, or as a means of paying off their mortgage or saving a nest egg for retirement. Without in-depth personal financial knowledge, people will have relied upon the advice offered by financial advisers, banks and other institutions in order to come to a decision about which investments to choose.
It is because this advice was – in certain circumstances – ill thought-out, or the specific investment inappropriate for the circumstances of the individual at the time, that a mis sold investment bond, or other investment product, will now come under scrutiny. It is hoped that genuine cases of mis sold investments will now be rectified to a certain extent, as individuals can make a claim for
compensation and hope to recoup their losses.
Many people will have been relying on the expected return on their investment in order to fund their retirement. The knowledge that this pot of money might no longer be available can put huge financial and emotional stress on an individual or a couple and this also needs to be taken into consideration. The situation needs to be rectified, not only on behalf of the customers who have
been mis sold investments, but also in order to ensure that financial institutions and individual advisers are seen to be held to account for any inaccurate or misleading information that they have given to customers in the past regarding the investment of their money.
With the issue of mis sold investment now out in the open, it is hoped that the message is getting through and that anyone who believes they have been misled will be able to come forward and receive more information about their investment and whether they might potentially have grounds for a claim with regards to their product. When a lifetime of savings could potentially be at stake, it’s imperative that people are now given the opportunity to check up on their finances and to have some peace of mind that their money is safe and their retirement fund will be sufficient for their needs over the years.