Personal Pensions the next PPI
Discussion
Siscar said:
What is mis-sold anyway and where is mis-bought? Selling under false pretences - lying - is clearly wrong but surely at some stage you hit the problem that someone buying something should make the effort to understand what it is.
Buying a pension is possibly the second biggest financial decision an ordinary citizen can make. It's not a dodgy secondhand motor car although pension sales persons have behaved like dodgy car salesmen in some instances. Pensions should be solid honest investments without risk. The footsie is near and all time high, property prices are strong. Small print and undisclosed mismanagement fees all add up to dilute pension funds.
Fortunately my health and other investments are working in my favour .
Kinkell said:
Pensions should be solid honest investments without risk.
You don't understand what a pension and the investments contained in it are.As investing in a pension is one of the biggest financial decisions that you can make, it's probably a good idea to understand what a pension is.
fandango_c said:
Kinkell said:
Pensions should be solid honest investments without risk.
You don't understand what a pension and the investments contained in it are.As investing in a pension is one of the biggest financial decisions that you can make, it's probably a good idea to understand what a pension is.
There are some argumentative *dicks on here, do you think you're doing your 'profession' any favours? (profession?)
I was mis-sold an endowment in the late 80's but 10 days before cut-off for claims. I was guaranteed the amount IN WRITING and told to expect 20% more... fat chance. No dependants, no need for life cover, typical lack of moral standards.
Mis-sold pension in late 80's, 6 months arguing, IFA admitted blame, pension terms changed by Zurich.
25 years later my endowments paid 56% of sum 'assured' despite projections of 120-150%.
My friend's father has been given 9-12 months to live, they just sold his house. The mortgage company arranged an IFA meeting two weeks ago, and he said they MUST invest in an annuity to ensure his financial security. No other investments were mentioned. I explained to her that you are evil nasty stealing leeches. Anyone on here want to disagree?
The problem is that you're incentivised on things which are totally disconnected from the best interests of your clients. It's not your fault, in my experience you are weak and greedy.
I was mis-sold an endowment in the late 80's but 10 days before cut-off for claims. I was guaranteed the amount IN WRITING and told to expect 20% more... fat chance. No dependants, no need for life cover, typical lack of moral standards.
Mis-sold pension in late 80's, 6 months arguing, IFA admitted blame, pension terms changed by Zurich.
25 years later my endowments paid 56% of sum 'assured' despite projections of 120-150%.
My friend's father has been given 9-12 months to live, they just sold his house. The mortgage company arranged an IFA meeting two weeks ago, and he said they MUST invest in an annuity to ensure his financial security. No other investments were mentioned. I explained to her that you are evil nasty stealing leeches. Anyone on here want to disagree?
The problem is that you're incentivised on things which are totally disconnected from the best interests of your clients. It's not your fault, in my experience you are weak and greedy.
Edited by -Pete- on Friday 11th April 22:56
-Pete- said:
There are some argumentative *dicks on here, do you think you're doing your 'profession' any favours? (profession?)
I was mis-sold an endowment in the late 80's but 10 days before cut-off for claims. I was guaranteed the amount IN WRITING and told to expect 20% more... fat chance. No dependants, no need for life cover, typical lack of moral standards.
Mis-sold pension in late 80's, 6 months arguing, IFA admitted blame, pension terms changed by Zurich.
25 years later my endowments paid 56% of sum 'assured' despite projections of 120-150%.
My friend's father has been given 9-12 months to live, they just sold his house. The mortgage company arranged an IFA meeting two weeks ago, and he said they MUST invest in an annuity to ensure his financial security. No other investments were mentioned. I explained to her that you are evil nasty stealing leeches. Anyone on here want to disagree?
The problem is that you're incentivised on things which are totally disconnected from the best interests of your clients. It's not your fault, in my experience you are weak and greedy.
Who is that aimed at?I was mis-sold an endowment in the late 80's but 10 days before cut-off for claims. I was guaranteed the amount IN WRITING and told to expect 20% more... fat chance. No dependants, no need for life cover, typical lack of moral standards.
Mis-sold pension in late 80's, 6 months arguing, IFA admitted blame, pension terms changed by Zurich.
25 years later my endowments paid 56% of sum 'assured' despite projections of 120-150%.
My friend's father has been given 9-12 months to live, they just sold his house. The mortgage company arranged an IFA meeting two weeks ago, and he said they MUST invest in an annuity to ensure his financial security. No other investments were mentioned. I explained to her that you are evil nasty stealing leeches. Anyone on here want to disagree?
The problem is that you're incentivised on things which are totally disconnected from the best interests of your clients. It's not your fault, in my experience you are weak and greedy.
Edited by -Pete- on Friday 11th April 22:56
Some people were mis-sold different investments, no-one is denying that. It's the pathetic claims about "anyone in financial services" that are being refuted.
Edited by sidicks on Saturday 12th April 07:33
-Pete- said:
My friend's father has been given 9-12 months to live, they just sold his house. The mortgage company arranged an IFA meeting two weeks ago, and he said they MUST invest in an annuity to ensure his financial security. No other investments were mentioned.
?
? Indeed. A very bizarre story.?
-Pete- said:
My friend's father has been given 9-12 months to live, they just sold his house. The mortgage company arranged an IFA meeting two weeks ago, and he said they MUST invest in an annuity to ensure his financial security. No other investments were mentioned.
?
There's more to this than you mention. Why is the mortgage company involved when he has just sold his house? What did the IFA say when asked why an annuity was appropriate??
Edited by fandango_c on Saturday 12th April 08:39
Kinkell said:
fandango_c said:
Kinkell said:
Pensions should be solid honest investments without risk.
You don't understand what a pension and the investments contained in it are.As investing in a pension is one of the biggest financial decisions that you can make, it's probably a good idea to understand what a pension is.
-Pete- said:
My friend's father has been given 9-12 months to live, they just sold his house. The mortgage company arranged an IFA meeting two weeks ago, and he said they MUST invest in an annuity to ensure his financial security. No other investments were mentioned.
?
Does not compute? An annuity simply not suitable based on circumstances as per above. Contact the FCA.?
Helicopter123 said:
-Pete- said:
My friend's father has been given 9-12 months to live, they just sold his house. The mortgage company arranged an IFA meeting two weeks ago, and he said they MUST invest in an annuity to ensure his financial security. No other investments were mentioned.
?
Does not compute? An annuity simply not suitable based on circumstances as per above. Contact the FCA.?
Kinkell said:
Buying a pension is possibly the second biggest financial decision an ordinary citizen can make. It's not a dodgy secondhand motor car although pension sales persons have behaved like dodgy car salesmen in some instances.Pensions should be solid honest investments without risk. The footsie is near and all time high, property prices are strong.
Small print and undisclosed mismanagement fees all add up to dilute pension funds.
Fortunately my health and other investments are working in my favour .
Without risk?Small print and undisclosed mismanagement fees all add up to dilute pension funds.
Fortunately my health and other investments are working in my favour .
Do you actually understand what a pension is / does (or are you actually referring to something entirely different than we assume when you say 'without risk')??
sidicks said:
-Pete- said:
There are some argumentative *dicks on here, do you think you're doing your 'profession' any favours? (profession?)
I was mis-sold an endowment in the late 80's but 10 days before cut-off for claims. I was guaranteed the amount IN WRITING and told to expect 20% more... fat chance. No dependants, no need for life cover, typical lack of moral standards.
Mis-sold pension in late 80's, 6 months arguing, IFA admitted blame, pension terms changed by Zurich.
25 years later my endowments paid 56% of sum 'assured' despite projections of 120-150%.
My friend's father has been given 9-12 months to live, they just sold his house. The mortgage company arranged an IFA meeting two weeks ago, and he said they MUST invest in an annuity to ensure his financial security. No other investments were mentioned. I explained to her that you are evil nasty stealing leeches. Anyone on here want to disagree?
The problem is that you're incentivised on things which are totally disconnected from the best interests of your clients. It's not your fault, in my experience you are weak and greedy.
Who is that aimed at?I was mis-sold an endowment in the late 80's but 10 days before cut-off for claims. I was guaranteed the amount IN WRITING and told to expect 20% more... fat chance. No dependants, no need for life cover, typical lack of moral standards.
Mis-sold pension in late 80's, 6 months arguing, IFA admitted blame, pension terms changed by Zurich.
25 years later my endowments paid 56% of sum 'assured' despite projections of 120-150%.
My friend's father has been given 9-12 months to live, they just sold his house. The mortgage company arranged an IFA meeting two weeks ago, and he said they MUST invest in an annuity to ensure his financial security. No other investments were mentioned. I explained to her that you are evil nasty stealing leeches. Anyone on here want to disagree?
The problem is that you're incentivised on things which are totally disconnected from the best interests of your clients. It's not your fault, in my experience you are weak and greedy.
Edited by -Pete- on Friday 11th April 22:56
Some people were mis-sold different investments, no-one is denying that. It's the pathetic claims about "anyone in financial services" that are being refuted.
Edited by sidicks on Saturday 12th April 07:33
I said "most" when if being charitable many would have been kinder!
You also had a pop at "the compensation culture of this country" when on another thread about 991 GT3s you are participating in some kind of compensation claim even though you can get a full refund,I bet a lot of people that have been sold financial pups would bite your hand off for their money back!
Grandfondo said:
Who is that misquote aimed at?
I said "most" when if being charitable many would have been kinder!
And yet again you show your total ignorance.I said "most" when if being charitable many would have been kinder!
The financial services industry employs well over 1 million people in the UK.
To suggest that 'many' people in financial services were 'bent' might be accurate if (say) 10,000 were involved in mis-selling. It would be highly misleading for the whole industry of course as that would represent less than 1% of employees.
To suggest that "most" are not decent honest, people suggest that you think that more than half are like this. Totally stupid and baseless rant.
Grandfondo said:
You also had a pop at "the compensation culture of this country" when on another thread about 991 GT3s you are participating in some kind of compensation claim even though you can get a full refund,I bet a lot of people that have been sold financial pups would bite your hand off for their money back!
Once again you are confused.I've strongly support compensation for anyone who has been mis-sold financial products. I am strongly against the 'compensation culture' that encourages people to claim for this 'just because they can' and in particular because it is often too expensive for the provider to prove otherwise.
sidicks said:
Grandfondo said:
Who is that misquote aimed at?
I said "most" when if being charitable many would have been kinder!
And yet again you show your total ignorance.I said "most" when if being charitable many would have been kinder!
The financial services industry employs well over 1 million people in the UK.
To suggest that 'many' people in financial services were 'bent' might be accurate if (say) 10,000 were involved in mis-selling. It would be highly misleading for the whole industry of course as that would represent less than 1% of employees.
To suggest that "most" are not decent honest, people suggest that you think that more than h
alf are like this. Totally stupid and baseless rant.
Grandfondo said:
You also had a pop at "the compensation culture of this country" when on another thread about 991 GT3s you are participating in some kind of compensation claim even though you can get a full refund,I bet a lot of people that have been sold financial pups would bite your hand off for their money back!
Once again you are confused.I've strongly support compensation for anyone who has been mis-sold financial products. I am strongly against the 'compensation culture' that encourages people to claim for this 'just because they can' and in particular because it is often too expensive for the provider to prove otherwise.
fandango_c said:
Kinkell said:
fandango_c said:
Kinkell said:
Pensions should be solid honest investments without risk.
You don't understand what a pension and the investments contained in it are.As investing in a pension is one of the biggest financial decisions that you can make, it's probably a good idea to understand what a pension is.
Kinkell said:
fandango_c said:
Kinkell said:
fandango_c said:
Kinkell said:
Pensions should be solid honest investments without risk.
You don't understand what a pension and the investments contained in it are.As investing in a pension is one of the biggest financial decisions that you can make, it's probably a good idea to understand what a pension is.
Gassing Station | Finance | Top of Page | What's New | My Stuff