Discussion
Gents,
I am looking into my mothers accounts after her unfortunate demise and am drowning.
Her IFA gave her certain advice which I believe was to increase their profit, not overly concerned however there are funds unaccounted for.
On requesting more details I received a letter from a financial group whose seeds infest burger buns worldwide, how is this IFI independent if they work under the umbrella of the aforementioned?
I am looking into my mothers accounts after her unfortunate demise and am drowning.
Her IFA gave her certain advice which I believe was to increase their profit, not overly concerned however there are funds unaccounted for.
On requesting more details I received a letter from a financial group whose seeds infest burger buns worldwide, how is this IFI independent if they work under the umbrella of the aforementioned?
Sarnie said:
Appointed Representative......
I am a complete novice in this area, I was under the impression an IFI was independent?However this one appears to operate in a market restricted to firms willing to pay the umbrella company they work under.
Is this normal for so called IFA’s?
stitched said:
I am a complete novice in this area, I was under the impression an IFI was independent?
However this one appears to operate in a market restricted to firms willing to pay the umbrella company they work under.
Is this normal for so called IFA’s?
It's common practice across a lot of the financial service industry.........However this one appears to operate in a market restricted to firms willing to pay the umbrella company they work under.
Is this normal for so called IFA’s?
stitched said:
Who should I speak to then about the poor advice she received and the missing funds?
Start here.......they will advise you of the complaints procedure;https://www.sesame.co.uk/Contact
Sarnie said:
Complaint was about IFA, was surprised when a company I’d never heard of responded on their behalf.Getting into a dispute with the umbrella company over the poor investment does not take into account the missing funds, circa 100K and I’d prefer to keep targeted the so called IFA, is this still possible if they are a representative of the umbrella company?
stitched said:
Complaint was about IFA, was surprised when a company I’d never heard of responded on their behalf.
Getting into a dispute with the umbrella company over the poor investment does not take into account the missing funds, circa 100K and I’d prefer to keep targeted the so called IFA, is this still possible if they are a representative of the umbrella company?
All complaints would be handled by the Network.......if you complain to the IFA, they pass it to the Network, thats what they pay them for.........they will be objective, and their decision will be in line with guidance from the FOS, which you will be able to take this to if you are not happy with the Networks response........Getting into a dispute with the umbrella company over the poor investment does not take into account the missing funds, circa 100K and I’d prefer to keep targeted the so called IFA, is this still possible if they are a representative of the umbrella company?
dalenorth said:
A network look after compliance, obtain deals, and help regulate thousands of brokers in the UK under their banner. Are you suggesting the IFA stole funds?
Sesame have a robust complaints procedure so I’m sure they will get to the bottom of it for you.
The IFA advised my mother over quite a period, I only started digging when I noticed an investment of £70K had only returned £20K.Sesame have a robust complaints procedure so I’m sure they will get to the bottom of it for you.
There is over £100K not accounted for in her accounts, so really I don’t know what has happened but didn’t get why I had a letter from a network.
Thanks to yourself and sarnie I’ve now a better understanding.
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