Hi to everyone first as I am new to the forum. I have recently just received a compensation award and my soilictor referred a financial advisor to come and see me. So the financial advisor came out and advised me that I should first set up a trust account so I did this and it cost me £800. He then told me that has set up a bank account inside te trust and tis is wit cater aller wic ius part of te santander group. I received the document s off cater allen private bank and te intrest on my money is 1% below the base rate. When on oter accounts it is 2.5% and up. I phoned im up and he is coming back out to see me to invest it and get more return. I am thinking of just doing tis myself. What I need to know has he set a trust up and then the bank account is in the trust. Or could he just of gone to a bank and referred me and they have paid him a referal fee and if I just went straight te bank myself ?

And also if I want to put it in a differnet account will it still be protected by the trust.

Oh, he's probably got a referral fee - but what I don;t understand is why you've signed for a savings account paying 1% below the base rate, when you could get 2-3% otherwise.