Brenda wasn't told that a deferral period was in force and would delay access to her invested funds.

What happened

Brenda was advised to invest £8,000 into a property fund. Although the fund's terms and conditions did say that a deferral period might be applied, the business didn’t tell Brenda that one had already been in place for over a month.

Some months later, Brenda found out that a deferral period was in place and had been ever since she invested. She complained that she wouldn’t have invested if she’d known this.

How we helped

We said that when the business made its recommendation, it should have told Brenda that a deferral period was being applied to investors trying to leave the fund. This information was key to making a decision about whether to invest.

Putting things right

We were satisfied that, on the balance of probabilities, Brenda wouldn’t have invested if she’d known that a deferral period had been in place at the time.