Evergreen fund

Hi
Just over a year ago I went to B o I to open a new savings account. I wanted to close two savings accounts and put the lump sum into a new savings account.
Somehow, they talked me into putting the funds into an Evergreen investment. I know I was stupid for doing so and I have to take the hit.
But a week ago I got a letter from the bank looking for a signature to close one of the initial savings accounts. They were so interested in getting my money, they didn't to do their paperwork properly.

You can see where I am going with this.
Since this initial savings account was not closed properly, can the funds from this account be used for the Investment or could I get my money back.
What ye think????

I doubt it , they will put it down to a simple small admin error but worth a try , you have nothing to loose .

Personally I would push them all the way but it will like trying to catch an eel with boxing gloves on ....slippery gits .

Best of luck , keep us updated.

M

From reading other posts on this fund and its operators, it really is as mixednuts stated dealing with slippery institutions. Try and retrieve your money in the first instance. There are enough posts on this fund and the people operating/selling it for Joe Public to make their minds up as to whether they should invest with them. Give it a bash as you have nothing to lose - not your fault so act dumb.

quote Duffman " I know I was stupid for doing so and I have to take the hit."

So basically this guy has invested his money, so far its done badly for him, thats the risk with investing. But now we are at the stage where we the customer are advocating dishonesty in order to reclaim money invested in good faith.
I think you are on the wrong site Duffman as this is not financial advice you are looking for, and perhaps if you feel feel this way then the above silly slippery eel and slipery institutions rhetoric.... might be a tad hypocritical? ;O)

There is a difference between transferring money out of the account into Evergreen and closing the account.

We are all missing the point here that Duffman has made. He went into the Bank in relation to his savings accounts and the Bank 'persuaded' him to invest in the Evergreen Fund. Whilst not knowing the circumstances, I would tend to side with the view of misselling the product by the Bank. It does happen in case we all think and thought that the Bank behind these funds could not work their ways like this. Could be another, yet again, another case for the Financial Services Ombudsman.

There are of course instances of miselling that have occured and these will rightly be dealth with.
Though from the limited info I can see on this case it appears more to be like someone who was persuaded of course, thats called sales pitch.. but from what he has said he understands/understood that it had a risk and he is will have to bear the pain like us all from bad investent performance.
He will of course have had to sign that he understood these risks etc.. and really i think he is clutching at straws if he thinks because the savings account was not closed that he would be refunded his money invested in Evergreen.
They are not a charity and from my experience there is not a hope of this happening through the ombudsman for said reasons. As for not having the account closed, this could not even be considered a serious complaint.
Sometimes you just have to hold your hands up and take responsibility instead of playing the blame game, you dont invest in an unguaranteed product with Shares property and bonds and expect to go through with this type of investment with your eyes closed.
It's not the end of the world all the same, this is a long term fund and should/may well recover given time........

johnnygman said:

They are not a charity..

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Agreed but they hold no right to treat their customers like stooges either. If the sellers of the financial product behaved incorrectly then surely this is the correct place to seek an opinion. The Ombudsman's office have been inundated with complaints in the last couple of years and whilst they do not publish all the findings, I am quite certain quite a few are due to misselling.

duffmann said:

Hi
<snip backgroundinfo>
Since this initial savings account was not closed properly, can the funds from this account be used for the Investment or could I get my money back.
What ye think????

Click to expand...

There may be a point of law on which this turns.
Is this an instruction, or the completion of a contract?
A bit of both perhaps, and contracts are not valid unless signed.
You could take legal advice from a good solicitor experienced in contract law.

onq

johnnygman said:

quote Duffman " I know I was stupid for doing so and I have to take the hit."

So basically this guy has invested his money, so far its done badly for him, thats the risk with investing. But now we are at the stage where we the customer are advocating dishonesty in order to reclaim money invested in good faith.
I think you are on the wrong site Duffman as this is not financial advice you are looking for, and perhaps if you feel feel this way then the above silly slippery eel and slipery institutions rhetoric.... might be a tad hypocritical? ;O)

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Wikipidia
JOHNNYGMAN ....
The last remaining honest banker or person who will defend the banking institutions to his or her death when all around were disillusioned with the Banking sector and their dishonest dealings.
Mainly to be seen & heard during a World economic crisis .(e.g) the crippling of the World economy by same named bankers in the later years of the first decade of the 21st century.

Are you 12 years old? this is just plain sad... this kind of nonsense is a joke and unhelpful,remember these normal people(slippery gits/eels etc.. to you) are working for a living like you or I. You might want to grow up a bit you are embarrassing yourself with comments like the obove and might want to consider removing the first part of you signon name. I take it you dislike anyone who works or is connected to the financial services industry as you have tarnished everyone with the same brush here.

They might be working for a living but are different in many ways. Like throwing a heap of Bull at people and lies, lies and more lies. I suppose you never thought that you may be wrong yourself, Johnnygman, as each time a person make diligent and correct points concerning New Ireland you defend them vigorously. Does the truth really hurt that much ?? Your on your own on this one Johnny so wake up and smell the coffee.

The Financial Services Industry in this country is a complete mess. The Ombudsman is inundated with complaints, but I forgot they are all out of step except our Johnny !

johnnygman said:

,remember these normal people(slippery gits/eels etc.. to you) are working for a living like you or I. .

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JohnnyG ...Give me a break will you , 1 example :

N.I.B - Fingleton - The building society boss is understood to be the sole beneficiary of a €27.6m pensions pot....even after the bank is on its knees when he was at the helm ,thousand of the "real" normal people you talk about (not these bankers) have lost their pensions and now face near poverty .

If u want other example there are plenty , just pick up a paper !

DEFEND THAT ....

END OF .

(Gone off thread so i apologize for those looking to read up on the evergreen investments , no more from me, last word to JohnnyG

Hell will freeze over before Johnny G is given the last word on this topic. He is hell bent on supporting Financial Irregularities and apparent miselling. He just wants to get more and more personal with people that are unable to see his crooked viewpoint,