Relationship over, ex keeping ‘joint savings’

Op says ". I transferred a set amount to him each month to put into an account which he said.."

So she willingly gifted him money
Unless she has some written agreement on the purpose of the transfer ? If something is written down can go to lawyer
Perhaps he considered it due payment for his services?

Good point he could have done a joint name account
didn’t realise he worked in finance
thought he was just a bit of an amateur like me .
I am really hoping OP can get her money back or most of it without too much hassle 🙏
It’s a lot of money .

All stocks and shares investments are volatile. That’s why they’re only advised as a long term investment. The ISA is probably doing well at the moment, hence his reluctance to withdraw the money.

Sure

Was there ever a joint name savings account though?? Or did op just hand over her ££ to him?

Totally agree. I don’t know why so many other posters are so quick to write this money off, there is definitely a way to go yet.

His inability to pay doesn't particularly matter because he works in a financial industry where a crime of this nature (and it is a crime) could be awkward. He will have to find the money he stole off her and gambled without her consent by taking a loan or agreeing a payment plan.

Good point

You say he works in finance, what does he do exactly? If it involves him being registered with a body of some sort, you could potentially report him, or if not with a body, then I'd be tempted to contact his employer.

He has no plans on giving you this money back, and I highly doubt you'll see it again. You could try small claims court but that is limited to £10K I believe.

You could potentially log it with police as theft or perhaps fraud (I'm not sure), or send him a solicitor's letter to return your share of the joint savings.

It's not your problem that he's moved it elsewhere than what was agreed, so he's just making excuses in the hope that you'll give up asking and he keeps every penny as planned.

Depends what he had it invested in I guess, he said it was volatile investment?

How is this theft or fraud ?
The value of her savings she gave to him has decreased
so he can’t give back what she gave him

He will have lost money too …

I doubt it. Our stocks and shares ISAs dipped for a bit but are doing really well now.

So sorry @FieldRunner but the money is now in his sole name and I doubt you’ll ever see it again unless he has a fit of conscience.

Why would the financial conduct authority care about what individuals have done?

don’t think he was up to no good here. It was probably easier to manage money all in one place

Yes a joint name account would be fine to have joint ££ in one place
He works in finance
He knew isa was individual
He knew it was not joint

Easier to each manage an isa in their own names 2x isa allowance per tax year!!
Why did he get her to put her money in his isa? Mind boggles .

I think his issue is her £15 k is no longer 15k… it’s been invested in something volatile and lost money … so he doesn’t have that amount to give back
He’s hoping he will regain losses …

You need legal advice OP

This is just theft.

Send him a letter laying out the details of the fraud he has perpetrated against you. Tell him he needs to return the money. How he does this is not your concern. He can take a loan out if necessary.

If he does not comply you will be issuing a claim against him, reporting him to the Financial Conduct Authority and copying his employer in to your letter. He will care about this.

Chat GPT will give you a great letter that will get results

You need to ask him what he has invested the money in and then we can help. If he has a simple ISA invested in shares then he can just sell 50% and get the cash within days. If it is a long term investment (a structured product is an example of one) then there could be complications cashing in.

It won’t be OP doing the transfer. It will be him on her behalf. That is why I said she needs to work with him on this .

i don’t think he was up to no good here. It was probably easier to manage money all in one place.
the problem is OPs 15k has possibly become £10k . He is going to need to calculate somehow exactly what she paid in and the percent decrease of the ISA over time. He can cash that in. Or transfer to OPs ISA.
either way ask provider for options on what to do

It’s his money though. She gave it to him.

And she is unable to transfer money from his ISA to one in her name because in order to do that the names on the ISA’s need to match.

His provider will not speak to her. It’s his money now.

How many more of these threads where women are blindly trusting men within partnerships where they have 0 rights.

If you’ve only discussed this verbally follow up with something written, even a WhatsApp acting a bit dim, but basically confirming he’s got over £15k of yours.

“I understand from our conversation earlier that you’ve put the joint savings in a stocks/shares ISA so it will take a little longer to withdraw, but so I can plan, how much did we have in the account before you moved it, and what do we have now?”

I definitely wouldn’t write it off, go back and find every written time you refer to it, check the references you used to transfer the £ over, give him a short time to get it back to you, and then start to make more of a fuss.

It costs 5% of the amount claimed, so £750, and you can file a money claim online. I’d give him a fortnight, and then tell him you’ll be doing this, and then follow up a week later and file if he hasn’t returned it to you.

Theres more information here - www.gov.uk/make-court-claim-for-money

You might as well write it off. It’s his money, you gave it to him, and you’re not married. You have 0 chance of getting it back.

Unfortunately your title is incorrect in that it’s not joint savings.