If this has happened to you, we can help get your money back.
Individual Savings Accounts (ISAs) are an extremely popular way to save money. You do not pay tax on any interest earned, or on any income or capital gains made from investments in an ISA. The four types of ISAs are:
In the 2022 to 2023 tax year, you can put a maximum of £20,000 into an ISA (or £4,000 in a Lifetime ISA). You can put all the money into one of these accounts, or split the allowance across them.
However, stocks and shares ISAs are not the same as cash ISAs. NISAs carry more risk and are subject to market volatility. This means that, while you can earn more with a stocks and shares ISA than a standard cash ISA, there is no guaranteed return and you could end up losing money. As a result, these investment ISAs are not always suitable for less experienced investors.
Our Investment Fraud and Mis-selling solicitors have seen a rise in mis-sold ISA claims from people who have discovered that their financial advisor did not properly explain the difference between stocks and shares ISAs and the other ISAs available, and have lost money as a result.
We help people in England & Wales claim back what they are due following ISA mis-selling. We can even help you get your money back if the bank, building society, investment firm, or adviser that sold you the ISA has since gone out of business.
Claiming with us is straightforward. It is free to sign up, and we act on a no-win, no-fee basis.
If you believe you were mis-sold an ISA, contact us to find out how we can help. We can find this out for you if you are unsure if you have a claim.
CONTACT US IN CONFIDENCE TO DISCUSS YOUR CASE
If you have been a victim of stocks and shares ISA mis-selling, we can help you make a no-win, no-fee claim for compensation.
Contact us today for a free, no-obligation assessment of your case.
Not all stocks and shares ISAs are mis-sold. Many experienced investors use them to make successful and profitable tax-efficient investments. But by investing in shares, funds, investment trusts and bonds, the higher potential rewards also come with a higher level of risk.
You might be the victim of stocks and shares ISA mis-selling if a financial advisor convinced you to invest and:
Where multiple people have received negligent or fraudulent financial advice from the same professional advisor/company, we can help them to recover their losses collectively. Group actions can be a powerful tool and can have a bigger impact than a single claim.
CONTACT US TO DISCUSS AN ISA MIS-SELLING GROUP ACTION CASE
Our Investment Fraud & Mis-selling lawyers deal with a wide range of ISA mis-selling cases every day. Here are just some examples of the type of cases we can help with…
Jamie invested in a stocks and shares ISA that his financial advisor recommended. But he did not know that the product was different to a cash ISA and that he wouldn’t be able to access his cash as and when he needed it. We are helping Jamie to claim compensation as he was not given adequate financial advice by his financial advisor before investing.
Ray appointed a UK-regulated financial adviser to ensure he received high-quality advice when deciding how to invest his savings. The UK-regulated advisor recommended a stocks and shares ISA and promised very high returns. However, the returns did not materialise, and Ray actually lost money. As the financial advisor did not properly explain the high-risk nature of the product, we are helping Ray claim compensation for mis-selling.
Mia invested in a stocks and shares ISA that was recommended by her financial advisor. However, she has since been hit by high fees that she did not expect and was not warned about. By not making the terms of the investment ISA clear, we believe that the financial advisor mis-sold the product and we are helping Mia make a compensation claim
*Names have been changed to protect client confidentiality.
Here are some of the questions our clients have asked our expert lawyers about making a stocks and shares ISA mis-selling claim.
You might be the victim of mis-selling if a bank, building society, investment firm, or financial adviser convinced you to invest in a stocks and shares ISA and:
Yes, if a financial advisor or provider advised you to invest in an unsuitable ISA and they have since gone out of business, you may have a claim. The Financial Services Compensation Scheme (FSCS) protects consumers when financial firms fail. If a UK-regulated adviser has given bad advice concerning an investment product, and the provider or advisor has since gone out of business, the FSCS may pay compensation up to £85,000.
To make a professional negligence claim, you need to demonstrate that you were owed a duty of care, that the professional involved breached this duty, and that this breach caused you to suffer a loss. This can be hard to prove, as a professional is not expected to be right 100% of the time. To win your case, you must show that another experienced professional in the same field would have given different advice, or that the professional failed to follow recognised good practice. We have a history of effectively handling these types of cases and can help you make a successful claim.
As a result of stocks and shares ISA mis-selling, victims might have:
There are two main funds available to help victims of financial mis-selling:
We can help you to make a successful claim to the relevant fund.
You can make a stocks and shares ISA mis-selling claim without a lawyer. But, while a DIY mis-selling claim could save you solicitor’s fees, in the end, and even if you win, you might walk away with less compensation. This is often due to a lack of understanding over the law/procedures, which can put individuals at a disadvantage when up against savvy (and sometimes aggressive) defence lawyers. And, of course, if you lose your case, you will likely have to pay the other side’s costs. Because we offer no-win, no-fee funding arrangements, you benefit from expert legal support without worrying about costs.
You will only have to pay anything if you win. You will not have to pay anything upfront. Any payment would only come out of the money that we recover on your behalf. We will conduct the claim for you under a no-win, no-fee agreement. If you win, our fees will be deducted from your damages.
Each case is different, but many of those affected by stocks and shares ISA mis-selling could be owed many thousands of pounds.
Contact us to discuss your case. Signing up is straightforward and costs you nothing as we act on a no win-no fee basis.
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