The Woodford scandal has impacted around 500,000 people. In some cases, the amounts of money that have been lost are huge, with very severe financial and emotional consequences.
Extensive research has been done that provides an insight into how losing substantial amounts of money can affect people. Short-term emotions that result from financial loss include shock, anger, stress, frustration, and confusion and the longer-term effects are even more numerous, including all of the short-term effects as well as guilt, regret, anxiety, depression, stigma and a sense of shame.
In particularly serious cases, there can be social withdrawal, the complete collapse of trust in others and even the onset of hypervigilance. And in some cases there can even be suicidal ideation and even worse.
The Woodford scandal is not a typical financial “scam;” rather it's about an investment fund that “lost its way” and was allowed to do so. There is no doubt that the financial loss that some people have endured, and the lack of effective regulatory prevention and response, has had a very damaging effect on literally hundreds of thousands of people.
The purpose of this part of our website is to provide investors who have suffered as a consequence of this, to have a chance to share and explain what their experience has been. Unsurprisingly, many of the victims of the scandal want to speak out, to protest about what has happened and to express their frustration; and sometimes even their sense of outrage, within a safe context where they will be listened to. They first provide a written impact statement and then a short video to literally ‘speak out’ about what has happened.
If you are a Woodford investor and would like to have your testimony included in this way, please get in touch.
