The Old Boy Trust (CAS-43783-B9R4, CAS-65180-W1S8, CAS-65175-F2D7)

Ombudsman’s Determination

Outcome

The Applicants’ complaint is upheld in part, and to put matters right Hartley shall:

• Complete a loss calculation to establish if the Applicants have suffered a financial loss because of the delay of the sale of the Woodford Patient Trust Fund (the Woodford Fund).

• Complete a loss calculation to establish if Mr N has suffered a financial loss because of the delay in his transferred funds being reinvested.

• Complete a loss calculation to establish if Mr E and Mrs E have suffered a financial loss because of the delay in them being able to transfer their investments in-specie to an alternative pension arrangement.

• Pay the Applicants £500 each, for the significant distress and inconvenience this situation has caused them.

Complaint summary

The Applicants have complained that they have incurred financial losses, following their request for the sale of the Woodford Fund, because of delays that occurred.