Investing is a great way to save money and make a profit. Unfortunately, many people have found themselves in a tricky situation after they were mis-sold investment products. Mis-selling occurs when an investment professional or firm recommends an unsuitable investment plan or misleads investors about the risks involved in the investment.
If you have found yourself in such a situation, it’s important to know that you have legal options when it comes to mis-sold investment claims. This post will help you understand what mis-selling is and how you can claim compensation if you have been a victim.
What Is Mis-Selling?
Mis-selling in the investment world refers to a situation where investors were not given the correct information about their investments or were given advice that didn’t consider their circumstances. Investment advisers may have misled a customer about the potential risks involved in an investment or the terms and conditions of the investment. These investment advisers may not only be individuals but also investment firms with a duty to properly advise clients of their choices for investment.
How to Recognise Mis-Selling of Investments
One of the most common investments that can be mis-sold is in pensions. SIPPs (self-invested personal pensions) have been mis-sold and some investors have lost tens of thousands of pounds due to poor investment choices or fraudulent schemes.
You may have fallen prey to mis-selling if you were misled about the nature or the potential returns of an investment, or if you were not informed about the risks involved in an investment. If you were sold an investment that was not suitable for your circumstances or investment goals, then you may have grounds for mis-sold investment claims.
How to Claim Compensation
If you think that you have been a victim of mis-selling, then you can make a claim to recover your losses. To begin the process, you may want to seek advice from a specialist solicitor, such as those at Lincoln Green Solicitors, who is experienced in handling mis-sold investment claims. Once you have established that you have been a victim of mis-selling, your solicitor will pursue the claim on your behalf.
If the claim is successful, you will receive compensation for your losses, including the fees paid for the investment, loss of profit, and any other damages that have arisen from the investment’s mis-selling.
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