The recent announcement that Lloyds Bank is planning a big push into wealth management is really scary.
The last time I wrote a blog about Lloyds I reported a record fine of £28 million for “serious advice failings”. Why on earth should we trust them to do any better this time around?
It is not long ago that The Financial Ombudsman reported that Lloyds showed the most complaints. Since then many of their more experienced advisers have taken redundancy and yet again their next expansion plan involves rolling pension and investment products out to its unsuspecting customers.
Please, please do not become one of their victims – or for that matter a victim of any of the other banks.
So where do you go for help?
As always personal recommendations are a good starting point (but even then do be careful). Make sure your friend is quite clear about measurable results and is not just telling you he/she is dealing with a very nice man/woman.
If you buy anything online, or do your banking online, one of the online services such as Hargreaves Lansdown may work well for you. That is where I come in – I hold all my investments/pensions with Hargreaves Lansdown. My “Guidance Service” will help you get established very quickly, make sure you avoid mistakes, and will set you up with some great monitoring processes.
Just drop me a text on 07770 575122 and let’s talk about how it all works.
This document and our on going services are not personal advice. We'll give you all the help and guidance you need to make your investment and retirement decisions, but we can't advise you. If you're not sure whether you need regulated financial advice we can put you in touch with a suitably qualified and experienced regulated adviser. Because we are not regulated by the Financial Conduct Authority you will not have access to the Financial Ombudsman Service in respect of any complaints. If you use one of the "no advice" on line services to handle investment transactions they will be Regulated and you will have access to the Ombudsman and The Financial Compensation Scheme in respect of their services. The value of investments/pension plans can fall or rise depending on market performance. The Retirement Team and The Investment and Retirement Coach are trading names of Capture Success Ltd Reg No 01825075 Tel 07770575122