Posted by
shashym
12 yrs ago
I have some years ago invested into a Robin Hood Group viatical policy.
After some time I received notice that the original fund manager ceased as a corporation and that a new one must be appointed. My financial advisor did not explain the circumstances and simply recommended signing the new manager but again without explaining the consequences. As a result I did not sign and the case has been pending since without any satisfactory answer as to the status of my investment.
I am in search of other investors with the same or similar experiences to discuss a way forward to secure those investments.
I am grateful for any advice and would like to get in touch personally with anyone facing a similar dilemma.
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While I have not invested in viatical setllements (after taking a good long look at them), there may be a trustee or custodian which is separate from the manager. If so, that would provide you with another point of contact.
You could also consider bypassing the financial adviser and approaching the new manager directly for further information.
Lastly, if the financial adviser is licensed with the SFC or the IC, you can consider lodging a complaint with the SFC or the IC.
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You were obviously cleverer than I.
Unfortunately there appears to be no new manager whom I could approach.
I know the SFC but what is the IC?
Thanks for your comments.
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Not really - I've made plenty of poor investments over the years.
IC = Insurance Commissioner
Some of the brokers are regulated by the Insurance Commissioner rather than the SFC.
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