Aegon, the insurance company recently transferred the personal details of around 35 clients to our firm due to an administrative error. This allowed us to see personal information of their customers over the internet and to the ability make changes to their investments.
The error came to our attention after noticing the value of investments managed for our clients was higher than expected. Further investigation identified over £1.2 million held across pension plans and other investments incorrectly assigned to our firm.
Investors throughout the UK are counting the cost of charges applied by stockbrokers and wealth managers. An investor may be paying £30,000 extra in charges over 10 years by not shopping around for the best deal. Some providers may appear cheap, but exit penalties mean they may be stuck paying higher fees for years to come.