In 2001 Terry wanted to invest for the future so arranged a meeting with an adviser at HSBC.

Terry was advised to invest a £1,000 lump sum into a Stocks & Shares ISA together with a monthly payment of £100. Terry continued to invest monthly contributions until 2003 and closed his investment in 2005. He had invested a total of £3,071 and received back £3,515 meaning the investment had made just £444 in 3½ years.

Terry saw our online advert and contacted us asking if we could help. We reviewed the advice he was given and found that British Fund recommended to him was much too high in risk for someone investing for the first time.

We sent our claim to HSBC explaining why Terry was advised wrongly. After investigating the case HSBC agreed with our findings and paid him £486 to compensate for the unsuitable advice he had received. This amount covered the position Terry would have been in if he taken a lower and more suitable level of risk.