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Paul Collingwood Sues Financial Advisor Who He Says Cost Him £300K

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Mr Collingwood claims he told the adviser he was 'looking for capital growth and could not afford any risk of losing his capital as he and Vicky were looking to start a family and therefore they wished to ensure that their standard of living would remain relatively the same.'

The couple say they relied on Mr Langham's advice on investments, tax and pension planning and claim that they told the adviser they were 'looking for capital growth and were not looking to take any unnecessary risk with their investments, to ensure they had monies available to provide for and look after their children.'

http://www.dailymail.co.uk/news/article-2316520/Cricketer-Paul-Collingwood-sues-financial-advisor-says-cost-300-000-risky-investments-told-afford.html

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Financial advisors don't know any more than anybody else about what is likely to happen to bonds, gold prices, property values etc, the only difference between taking a financial advisor's advice and taking your own chances is that the financial advisor is going to charge a large up-front fee for his advice.

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only difference between taking a financial advisor's advice and taking your own chances is that the financial advisor is going to charge a large up-front fee for his advice.

That's my attitude as well, big fee or commission. Likely to be some good financial advisers but way in the minority.

More sports stars are not impressed, bringing claims (1st May 2013)

http://citywire.co.uk/wealth-manager/james-anderson-and-other-sports-stars-sue-sigma-wealth-management/a676812?ref=wealth-manager-home4-list

Story of more claims brought against same firm/individual in 2011, but story above suggests these earlier claims ended in a settlement.

Langham classified Gallacher as a medium-risk investor despite her stating she was not prepared to risk losing the capital from her £1 million divorce settlement, according to court papers. Three other clients have claimed over Langham’s advice to invest into property deals and funds promising returns of up to 20% per annum.

http://citywire.co.uk/new-model-adviser/sigma-wm-faces-court-action-over-500000-invested-in-ucis/a480301

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Financial advisors don't know any more than anybody else about what is likely to happen to bonds, gold prices, property values etc, the only difference between taking a financial advisor's advice and taking your own chances is that the financial advisor is going to charge a large up-front fee for his advice.

The only time I found a financial advisor useful was when I bought my annuity. I contacted every company I could find for quotes and, last of all, gave an FA a call, he checked a database not available to the general public and found me a much better rate.

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nah but they were canny investors a while ago - something doesn't add up - celebrity = genius right?

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Langham classified Gallacher as a medium-risk investor despite her stating she was not prepared to risk losing the capital from her £1 million divorce settlement, according to court papers.

Im going to sue the Government,

Im a low risk investor who is not prepared to lose the capital Ive saved.

Sadly, thank to Government action, my money loses value at some percentage between 2 and 9% depending on my habits of spending, and the firm i invest with only pays 2-3% and even that is taxed.

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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