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Wexdon IFA
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Richard Briggs
Richard Briggs

14 followers
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If you have been inconvenienced or suffered a financial loss or mental distress from the failures of Nat West; RBS or Ulster Bank as has been widely publicised in the media; despite their (The RBS Group) claims that their contract refutes any compensation for their technical failures there is no way for them to prevent you taking a compliant to the Financial Ombudsman Service (FOS).  The RBS group would be charged a fee of £500 if your case were to be reviewed by the FOS even if they were to decide in the RBS Group’s favour.  It would be in their financial interest to pay the customer off a reasonable fee such as the amount they charge for going over drawn than pay the FOS fee.  Taking a complaint to the FOS is free of charge to the customer and the FSA regulated company cannot claim any charges against the client even if they lose.  

This information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action. The tips may not apply, or be suitable, to everyone and you should contact us for advice if you are unsure whether this is the case.
 

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The webpage on the rules Nursing Home fees and how that fits in with the financial planning of older people needing long term care has been updated.  http://wexdon.com/nursing-home-fees

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The following article stresses the importance of shopping around even amongst the top 5 annuity providers.  http://www.moneymarketing.co.uk/pensions/double-digit-gap-in-top-five-annuities/1052662.article  Getting an annuity quotation and investigating if you are eligible for an enhanced life annuity.  Most IFAs and Chartered Financial Planners offer annuity searches for free, all it will take is some of your time.  If you want an IFA in London to search the annuity market for you http://wexdon.com/ will do it for free.

This information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action. The tips may not apply, or be suitable, to everyone and you should contact us for advice if you are unsure whether this is the case.

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There is a new tip of the day on http://wexdon.com/

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There is a new tip of the day on http://wexdon.com/

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There is a new tip of the day on http://wexdon.com/

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There is no such thing as a free lunch.  Andrew Baily is very out of touch if he thinks British consumers will pay for current account banking.  The dismal rates of return and the opportunities banks have to sell to their customer base.  If the banks state they cannot make a profit from offering free current accounts I am sure there are many Building Societies which will!  

I wish we had a strong regulator which would say clearly to the Banking industry that if they cannot make a profit they should exit the market.  I am fed up with all of these privileges the banking industry has received given compared with other industries.  How many convictions have there been for the Payment Protection Insurance miss-selling scandal a multi-billion pound fraud?  I am unaware of anyone who has been held responsible.  My expectations for the new regulatory regime are not high.  Let’s hope I will be easily pleased. 

The article which inspired this blog post was http://www.moneymarketing.co.uk/regulation/top-regulator-says-%E2%80%98dangerous-myth%E2%80%99-of-free-banking-must-end/1051896.article
This information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action. The tips may not apply, or be suitable, to everyone and you should contact us for advice if you are unsure whether this is the case.

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I was delighted to read that complaints to the Financial Ombudsman Service regarding IFAs has declined. http://www.moneymarketing.co.uk/regulation/fos-complaints-against-ifas-continue-to-fall/1051778.article I hope news like this will improve the image of the industry and more people will chose to use an IFA or Chartered Financial Planner to get their important decisions right first time.

This information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action. The tips may not apply, or be suitable, to everyone and you should contact us for advice if you are unsure whether this is the case.
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