Before taking your with-profits funds complaint to the FOS you
must first complain to the firm that sold you the policy.
Most reputable companies will have a code of practice and a
complaints procedure which can usually be found on their website.
Obtain a copy so you can be sure that they are handling your
complaint correctly and that you are following the correct
procedure.
Put your complaint in writing and clearly explain what the
problem is and what you want the company to do to rectify the
situation. In this case you feel that you were mis-sold your
investment as a result of poor advice, and would like to be put
back into the position you would have been had you not taken
out a with-funds policy i.e. a full refund of your original
investment plus 8% statutory interest.
If you have already been charged an MVA, then request it to
be refunded as the company did not make it clear in their policy
documents that this would be charged, and had you known about it
you would not have taken out the policy.
Set out the facts logically and clearly, and include
any paperwork that supports your complaint.
Send your letter by recorded delivery so you have proof the
company received it.
(For a more help on how to make an effective complaint please
see our
"How to make a complaint" guide.)
If you are not satisfied with the company's response then you
may forward your case to the FOS. Details on how to do this can be
found on their website.
Claims Financial
Testimonial
"I just had to put pen to paper and write to say I'm more than delighted with my settlement that you won me back from my PPI I had with Lloyds TSB. The Claim Forms were simple to fill in. It was a breeze"
Mr R Evans 11 Nov 2010