I have recently found out that the Generali Vision investment product that was sold to me was misrepresented at the point of sale. The sale itself was conducted by a Swiss based company in Geneva "Sovereign International", who did not inform me that the first 23 months of payments into the investment is locked away until the end of the invesment (25 years) and that the fee structure is "front loaded" and ongoing.in other words the first 23 months of payments are fully paid as commission to the broker and Generali and none of it is actually invested on my behalf. That means if I stop paying into the fund after the first 23 months (as I have) then no money is invested and all of it goes for commission. I was not explained this by the IFA nor by Generali and if I knew these facts then I certainly would not have signed the contract. I was missold this product as the conditions were explained to me differently. I asked all the pertinent questions (how do you get your commission? How can I get my money back if I want?) and was answered dishonestly by the IFA. The contract was signed in a rush at the end and a copy sent to me at a later date. I have only now uncovered the actual terms and conditions of the contract.
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