My friends mother was sold a tracker bond by 'First Active' when she was 79 years old (in the comfort of her own home).
This lady is now 82 and in very bad health. She needs access to her funds and will have to wait until Nov. '11.
As First Active was taken over by Ulster Bank this is now an 'Ulster Bank' issue to be dealt with, I believe.
My friend went to speak to someone in the local Ulster Bank and was told that this should not have happened, but that the person that sold her mother this product was no longer with them and it was not their problem.
Who should she go to to have this money made available to this old lady, and can she get all her money back.
We are talking about a sizable amount, with smaller amounts to mature in '13 and '15 too
I recall hearing something on the radio last year about staff in some financial institutions selling these type of products to O.A.P's for commission, but not putting the best interests of the investor first.
Having elderly persons money tied up for long periods when they are in the time of their lives when they may most need to access funds at very short notice.
Anyone got any suggestions, please.
This lady is now 82 and in very bad health. She needs access to her funds and will have to wait until Nov. '11.
As First Active was taken over by Ulster Bank this is now an 'Ulster Bank' issue to be dealt with, I believe.
My friend went to speak to someone in the local Ulster Bank and was told that this should not have happened, but that the person that sold her mother this product was no longer with them and it was not their problem.
Who should she go to to have this money made available to this old lady, and can she get all her money back.
We are talking about a sizable amount, with smaller amounts to mature in '13 and '15 too
I recall hearing something on the radio last year about staff in some financial institutions selling these type of products to O.A.P's for commission, but not putting the best interests of the investor first.
Having elderly persons money tied up for long periods when they are in the time of their lives when they may most need to access funds at very short notice.
Anyone got any suggestions, please.