Financial advice

[natk85]

Hi, wasn't sure where exactly to put this thread so general will do! Last year I opened an ISA through a financial advisor with £5000 in it. Last week, I withdrew £1000 from the account(thinking this would be alright since it is my money) and got an angry letter from the advisor saying that it was a long term investment. This didn't bother me that much but just today he told my father about my withdrawal. Now, I'm not too sure about the legalities of all this stuff but I was sure that a financial advisor was in a position of trust and that discussing your financial affairs with anyone else, even family members, was misconduct. Can anyone help me out? I've tried citizens advice but its closed due to the Easter weekend. Thanks for any help.

[jowalshy]

Discussing any financial stuff with anyone else but you is basically a breach of the data protection act and your financial advisor should be well aware of that.

[natk85]

Thanks, I thought so! I just wasn't entirely sure as I usually would expect someone like that to not go around discussing is with anyone else! Do you know what steps I should take to complain? I was thinking a stern letter. Not sure what that will acheive but i guess i could try...

[jowalshy]

You can do a stern letter if you wish threatening him that if he does this again you will report him to the FOS (I think thats who you report this sort of thing to) Or you can just report him anyway. It really depends on how much you like this chap or not.

[natk85]

Well he is a nice enough guy i don't think thats the point he still shouldn't have done it. I'll have a look on the FOS thanks for the help