Dear Ringgitman

	Recently, my elderly mother invested in a unit trust product through a unit trust agent of a local bank. The agent told my mother that by investing in the fund she would make more money, as the return is higher than fixed deposits. To further convince my mother, the agent assured her that the bank has professional money managers that will safeguard her money and she will not lose a cent from the
investment. My mother was not told about the risks of market movements and its effect on the unit price and that the investment returns are not guaranteed. My mother, who is not investment savvy, trusted the agent and end up investing in the unit trust.

I know that she should have read the prospectus, but she could not read very well and had a difficult time in understanding the jargon in the prospectus. Thus, the agent’s words were her only source of information.

Can my mother recover her money and where can she lodge a complaint against the irresponsible agent?

Disgruntled Daughter
Kluang, Johore