Can I query a mis-sold investment product for my parents if I don't yet have Power of Attorney?

10 Feb, 2022

Question by Kuldip

Can I query a mis-sold investment product for my parents if I don't yet have Power of Attorney ?

Answered by Tim Brienza

Hi Kuldip,

There is nothing stopping you from writing to the provider in question on behalf of your parents, and they may give you some limited info or generic information on a specific product/service but it is likely that they will not provide any personal details or discuss anything in relation to your parents products specifically, without the POA document.

A solution for now might be to write to them, but ask your parents to sign off on the letter. Alternatively, calling the provider with your parents present should allow you to pass any initial security questions they would ask.

In the meantime, applying for POA, if your parents have now lost capacity, would be the best thing to do if you wanted to take the sole lead on any queries you've got, as well as manage their finances ongoing.

Hope that helps Kuldip.

Answered by

Tim Brienza

Chartered Financial Planner

I started my career wanting to be a lawyer however I soon pivoted into personal finance after university. The eye for detail that I honed while studying law lends itself well to financial planning and now, 7 years later, I am a Chartered Financial Planner and a Fellow of the Personal Finance Society - the highest accreditation possible through the CII.

I love working with my clients, building stronger relationships and gaining a better understanding of their needs year-on-year. I don’t have a 'typical' client and enjoy working with everyone and anyone; from those who want to place their full trust in me and my recommendations, to someone who wants to engage and collaborate to find solutions. Financial Planning is completely subjective and should be treated as such – there is no 'one size fits all.' Ultimately my role is simply to ensure that my clients and their families have the best life possible, within their means and capabilities, by structuring their finances and/or estate in the most efficient way possible.

Outside of work, I’m married to a Film Production Manager and we love to travel to new places when we get the chance. We also recently added a new addition to the family, a small cockapoo named Ted, who keeps us very busy!

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