Adviser protests force payday loan sales site into overhaul

Laura Miller
clock

A firm marketing hedge fund and pay day loan investments to the general public has bowed to pressure from financial advisers and pledged to overhaul its website after concerns the language it uses sets out to deceive potential investors.

Ledger and Simmons promotes products on its company website that offer high "guaranteed" annual returns of up to 9% a year. A post on its public Facebook page from 11 August 2015 targeted inexperienced investors with the promise that "Many of our products offer ‪#‎GUARANTEED‬ returns far outweighing anything the novice investor may come across." Behind the eye-catching headline figures, however, products promoted to ordinary retail investors with names like Guaranteed Return Plans and Guaranteed Investment Plans are found to invest in what can be risky alternative investments includin...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

PA Working Lunches: Long-term structural change with Scottish Mortgage

PA Working Lunches: Long-term structural change with Scottish Mortgage

Join us for an informative session worth one hour of CPD

Professional Adviser
clock 24 February 2025 • 1 min read
Partner Insight: How smoothed funds can meet clients' needs

Partner Insight: How smoothed funds can meet clients' needs

Andy Brown, head of fund solutions at Standard Life, explains what led the firm to create its smoothed fund proposition.

Sarka Halas
clock 21 February 2025 • 2 min read
'I'm ready for this, there's no denying': Four reasons to celebrate AIM's 30th birthday

'I'm ready for this, there's no denying': Four reasons to celebrate AIM's 30th birthday

The Alternative Investment Market launched on 19 June 1995

Eustace Santa Barbara
clock 20 February 2025 • 4 min read