6th February 2009, 11:43 PM
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 | What Consumer Founder | | Join Date: Apr 2008 Location: Bolton
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 Consumer rights: The adviser and the bond that was sold to a dying man
 Q. In late summer 2007, in his 79th year, in the early stages of terminal cancer and with rapidly decreasing mental capacity, my father-in-law was persuaded, by an HSBC financial adviser, to move £144,000 into a Standard Life capital investment bond. The adviser received £10,000 commission for this advice. At the time of my father-in-law's death in July last year, the fund stood at £122,000. From the total initial investment, this represented a huge fall in 10 months. Surely, for a man in failing physical and mental health to be persuaded to invest in such a high-risk policy at his advanced age was a case of mis-selling. Unsurprisingly, HSBC does not agree. IC, Leeds Consumer rights: The adviser and the bond that was sold to a dying man (External link to The Independent) |
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