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Mis-Sold PEPs (Personal Equity Plans)

PEPs allowed investors to enjoy the profits from stock market-related investments, free of income tax or capital gains tax. They were replaced by Individual Savings Accounts in 1999, and in 2008 all PEPs were converted to the new product. While existing customers could no longer add to their investment, they continued to enjoy the same tax advantages they always held.

PEPs carried a certain degree of risk, but returns were generally good because they were available at a time when stock markets were performing well. Many people still have their original investment today. PEPs were very popular among investors and with that popularity came a higher than usual chance that an investor might have been mis-sold a PEP.

How to identify mis-sold Personal Equity Plans

Since many PEP investments were seen as successful, customers were all too happy to be recommended them – and proceed to take them out. The two main problems were: not everyone was suitable to purchase a PEP, and the high risk nature of the product would never be explained clearly by advisers. This led to people who were mis-sold a PEP losing a considerable sum of money and not knowing how or why.

Banks have to abide by regulations that restrict them to suggesting only products that are suitable to your needs and circumstances. When trying to sell you a Personal Equity Plan, the financial adviser should consider your age, occupation, financial circumstances and needs, tax position, period of investment and, finally, your attitude to risk. A cautious investor should not be led into being mis-sold a PEP or any risky product.

Claiming for mis-sold Personal Equity Plans

At AMK Legal, we know what risks With Profit Bonds carry and exactly how they are mis-sold. It’s our mission to help clients claim for With Profit Bonds compensation.

  • Asked you about your attitude to risk
  • Discussed with you the impact of an under-performing PEP
  • Took into account your level of investment experience
  • Talked through alternative products
  • Presented the advantages and disadvantages of PEPs

If the adviser fell short on any of these then you may have a case for a claim. At AMK Legal, we’re experts in reclaiming money from mis-sold PEP investments. We have many years of experience helping clients who were mis-sold a PEP get a significant rebate.

What’s the next step?

For further details on mis-sold PEPs and how we can help you to claim back the money you lost, call us on 01204 565331 or email Alternatively, you can request a call back below and we’ll get back to you straight away.

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