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Westerby Private Pension (CAS-57893-P0C6)

Complainant: Mr Y
Complaint Topic: Administration
Ref: CAS-57893-P0C6
Outcome: Not upheld
Respondent: Westerby Trustee Services Limited
Type: Pension complaint or dispute
Date:
Appeal: No

Ombudsman’s Determination

Outcome

I do not uphold Mr Y’s complaint and no further action is required by Westerby. 

Complaint summary

Mr Y complained that Westerby did not carry out sufficient due diligence when it allowed him to invest £80,000 in a loan note issued by Dolphin Trust (formerly known as Dolphin Capital). The loan note subsequently defaulted, and he lost the majority, if not all, of its value. 

Mr Y asked to be reimbursed the amount he lost in the loan note.

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