Monday 5 December 2016

Charlie Weston: Accountants warn elderly to be wary of cowboys

Published 12/08/2010 | 09:49

SENIOR citizens tend to have a few bob in savings but they are very vulnerable to bad advice and to being ripped off by cowboy operators.

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Reports from the financial services ombudsman always contain depressing case studies of how people in their 70s and 80s were persuaded by some chancer to put their nest egg into a 10-year bond or some other unsuitable investment.

Often, this bad advice is dispensed by a bank, which is shameful and emphasises why we need a “name and shame” policy for errant institutions.

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