We would then prepare submissions detailing the reasons that that we feel you received bad advice in the hope of claiming compensation for you, this would be discussed with you.
If the individual or firm that provided you with bad advice still trades, we will make a complaint to them, using their own, internal complaints process. If they do not believe that you have a valid complaint, they will reject our submissions and we will then send your complaint to the Financial Ombudsman Service (FOS). The FOS will appoint an individual adjudicator who will consider our submissions and if they are in agreement that you have been badly advised then a compensation payment will be calculated.
Please note, there is a set methodology in which compensation is remunerated and, for some types of claim, an actuary may be instructed to assess the amount of your loss and the amount of compensation to which you are entitled.
A potential claim can still be made on your behalf even if the Financial Adviser concerned is no longer trading, through the Financial Services Compensation Scheme.