In the remaining case the client was deemed a sophisticated investor and therefore a medium as opposed to low risk investor.
Here the Fos did not consider that a Sipp was an unsuitable product for the client but it did think the investments were unsuitable. He therefore calculated the redress differently in this case.
The Fos decided the client should be put as closely into the position he would be in if he had been given suitable advice.
Intrinsic rebranded as Quilter Financial Planning in July 2019 after its parent company completed the acquisition of Lighthouse in June.
Quilter did not want to comment on the Fos decisions as the cases pre-dated the acquisition of Intrinsic in 2014.
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