If you thought I was making this stuff up, here we go again, but a day later yet another client-advised-to-invest-pension-in-non-existent-property-scheme story. The never-built property was supposedly in Brazil; why would you ever touch it with a bargepole? Beats me, but it’s likely, as the adviser’s company is now in liquidation, that ‘the liabilities incurred following the complaint will fall onto the Financial Services Compensation Scheme’. So we’ll be coughing up on her behalf.
“Letter of authority: Why now is the right time for change”
This may sound like a non-issue from outside the world-of-financial-advice bubble. It is the bain, however, of the daily working lives of many of us, particularly of those paid by we advisers to do the dirty work of dealing with the many providers with whom we have to work.