Financial mis-selling claims are a serious matter that requires careful consideration. If you believe that someone misled you before selling a financial product, you may qualify to file a claim. Here is a quick look at some of the most common examples of financial mis-selling.
Investment mis-selling occurs when a financial advisor sells an investment product, such as a stock, bond, or investment fund, without disclosing the full risks or details of the investments. Advisors should account for the customer’s risk tolerance and financial goals. Omitting details could be viewed as mis-selling.
Lincoln Green Solicitors frequently address mis-selling claims involving pensions. This often occurs when individuals are advised to transfer their pensions into a different scheme, such as a self-invested personal pension (SIPP). The financial advisor selling the SIPP may not fully inform the client of the risks and drawbacks of the product, which is an example of mis-selling.
Payment Protection Insurance (PPI) Mis-Selling
Many consumers have been victims of PPI mis-selling over the past few years. The people who purchased PPI were often misinformed about the costs. Some people were also misled about what the insurance may cover.
Mortgage mis-selling can occur when mortgages are sold without considering the borrower’s ability to repay. Lenders may also misrepresent the terms of the mortgage or fail to disclose the risks associated with certain mortgage products.
These are just a few examples of financial mis-selling claims. If you believe that you were misled before purchasing a financial product, consider speaking with a solicitor.
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