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£236m Life Savings Lost

£236m Life Savings Lost

11,605 people who invested a total of £236m have lost their savings following the collapse into administration of London Capital and Finance PLC (LCF) in January, following an investigation by the Financial Conduct Authority (FCA) into misleading advertising.

Many people who put money into LCF were first-time investors – inheritance recipients, small business owners or newly retired.

Questions are being asked in Parliament too about what the FCA knew – and when – about possible misleading marketing. Several independent financial advisers have said they warned the FCA, some as far back as 2015, about what they felt were “misleading, inaccurate and not clear” adverts, often promoted on social media.

You can read the full BBC News Article Here

Investing your hard earned wealth is a really big decision to make and our advice would be, if a deal seems too good to believe, it probably is good to be true! We would always recommend you take professional advice before risking your wealth.

Redwood is one of the Souths’ leading Pensions, Investments, Wills, Trusts & Estate Planning providers and we are dedicated to helping families to grow, protect and enjoy their wealth. We are a member of the Buy With Confidence scheme operating by Trading Standards, and with our unrivalled knowledge of Savings, Investments, Pensions, Estate Planning and Probate, we can advise on any situation. Join us at one of our Free Estate Planning Public Information Seminars: Book online Book Me A Place!Call us on 01489877 547 or Email info@redwoodfinancial.co.uk to book a FREE Initial Meeting with us to review your financial planning needs.