An elderly investor says she has been waiting for over two months for Towry to give her back her savings after complaining about its advice.
Former Edward Jones client Pamela Knowles, 71, was earning £400 a month income from her £170,000 savings in Standard Life bonds.
On June 21, a Towry adviser visited her home and persuaded her to shift into its investment service. She claims she was “not given a chance to take in fully the implications”.
Towry received a complaint from her on August 4, saying: “I think it would be best if it is all returned to my care, then I can move on.”
While waiting for the savings, Knowles is not receiving her monthly income as she did not adhere to Towry’s financial procedures. She says:
“This whole exercise has been a nightmare and left me feeling extremely upset and confused.”
Towry spokesman Peter Foster says the group will return the money, adding that a change of address made it difficult to contact Knowles.
He says: “Based on the evidence, there is no flawed advice but the client has changed her mind.”