Lost investment

[want2findout]

My grandfather recently passed away and my grandmother is currently in the process of sorting all accounts, paperwork etc. and has come across a pass book from Woolwich. It shows that their joint Woolwich account was closed in May 1991 and the money was re-invested on the same day with the advice of a woolwich team member. Woolwich have now been taken over by Barclays bank. We have already contacted Barclays but their records only go back 12 years. There was a substantial amount in the account and therefore any help would be very much appreciated as to how to go about finding out where this money was re-invested.

[annie0000]

If Barclays took over Woolwich, they can't get away with saying that their records dont go back that far. They have a responsibility to retain the records of that company as well. However, if the investment was subsequently encashed or transferred, they may not have any ongoing record of it. I believe that they would have to retain records of the sale for a period of 6 years after the contract ended. ie. matured or was encashed. Good practice would suggest though that they should have as a minimum, details of when the policy was started and when it ended (if it has) if the money is still with them, they have to have a record - the fact it was originally invested in the Woolwich is irrelevant. I would go back to Barclays and supply them with everything that you have. Do you have any other indications from withing your Grandfathers finances that indicate that the money may have been transferred again, or used -e.g. did they have a large purchase after this time that would cost about the value involved - home improvement, car etc.?

[want2findout]

Thanks annie0000 for taking the time to post reply. The money was re-invested on the day the account was closed. It was re-invested whilst at the woolwich office so as you say they must have some record of it. My grandmother can't remember if it was re-invested in one place though or in a number of accounts (my grandfather was never one to keep all his savings in one place!). Thanks again for the advice. We'll get back in touch with Barclays and hope to get to the bottom of it soon!