The year 2021 reviewed.
2021 continued to be a very busy year, particularly in the area of pension mis-selling claims. Fortunately, business was largely unaffected by the pandemic.
Many clients are recommended by existing clients and simply call or email for a quick chat. Usually they are concerned about having been sold a product for which an existing client has received compensation.
Still, there was a small impact from Covid, due to the closure of schools at the start of 2021 and the incredibly busy time it was for doctors. Teachers and doctors compromise a majority of clients, as public sector professionals have been targetted for decades by insurance company salesman, keen to sell pension and investment products to those most likely to keep paying into them for many years (thus generating substantial commission).
With schools closed for extended periods, teachers were not mingling as usual and thus “word of mouth” referrals between friends and colleagues in the staff room fell.
Similarly, with doctors being so busy fighting the pandemic, it was harder than usual to find opportunities to explain how many doctors have lost thousands of pounds due to mis-selling.
However, these impacts were really only at the margin due to the strong relationship with existing clients encouraging their friends and colleagues to get in touch for a no-obligation review.
Compensation amounts for clients continued to be healthy, with some clients receiving amounts running well into five figures. Indeed the average for doctors was still around £40,000 each.
The case win rate was similarly very strong. Only taking on a relatively small number of cases at any one time pays dividends as it means the necessary amount of time can be devoted to each one.
So, in summary, 2021 was a good year for clients with a high win rate and healthy redress payouts. The evidence can be seen in the very kind feedback many clients left on Trustpilot. Just visit www.trustpilot.com and search for Greg Vaughan Financial Services or pension claims.
See some of the recent settlement letters here: FSAVC-redress-offers