Pensioner's life savings lost to ****

A family member, my mother, was recently ****med out of her life savings. This entailed her withdrawing all her funds from Liberty and voluntarily paying it over to the *******. This person was the only signatory on the investments.

Strictly speaking nothing was wrong.

However when this is an elderly person withdrawing all her life savings and there is a known family contact (me) on record with the Financial Advisor and he is not contacted to simply suggest a check in with this elderly person's wellbeing and clarity of mind especially during the lockdown it is a different story. The fact that I have previously dealt with this advisor as executor of my father's estate that concerned this very same investments makes it worse.

I feel Liberty and the financial advisor Errol Maritz has not done what the reasonable man should have done in these circumstances.

If you have an elderly family member with sole signing powers on life investments talk to them! The financial institutions are not doing enough in these changing times to educate and double check on big decisions being made.

In the past I trusted these institutions and advisors to take care of my money, to advise and educate in a way that hits home, It failed. Find a way in which there is personal contact and interest that goes beyond what is required by the rules.