Apollo Pension & Investment Advisers asked to pay compensation to three clients over ‘unsuitable’ SIPP advice after Green Oil Plantations investments

One such case involved the pension transfer of a man with degenerative neurological conditions, who later died. Regulated IFA, Apollo Pension & Investment Advisers has been asked by the Financial Ombudsman to pay out compensation regarding 3 cases where the FOS adjudicator decided that their pension advice was unsuitable. In each of the 3 Ombudsman…

Do YOU know how to spot a Third Generation Pension Scam?

FCA warns of Third Generation pension scams – What to watch for when transferring your pension

We explore the warning signs of a Third Generation DFM-based pension scam The Financial Conduct Authority has published a warning on it’s website, describing how pension scams involving high-risk investments have been evolving, continually putting more and more pension savers at risk of losing their hard-earned nest eggs. The notice, which followed on from the…

The Falcon Group – Lighthouse Group PLC has 15 upheld complaints over UCIS investments

The Falcon Group Limited (Falcon), now owned by advice firm Lighthouse Group PLC (Lighthouse) since 2008 has had over 15 FOS decisions upheld against it relating to unsuitable pension advice, often involving the same series of UCIS investments on offer from Merchant Place Property Partnership, or involving Splash Broadcast investments. UCIS Property Investments and The Falcon…

Pacific IFA Ltd dealt 15 upheld complaints for poor advice involving Harlequin Property Investments and SIPPs

Pacific IFA Ltd (previously called Pacific Life), is an Essex based financial advice firm currently showing 2 active and regulated advisers, and is now known to have been involved in the sale of Harlequin Property investments through SIPP wrappers, as part of a chain of firms that involve unregulated introducers acting as agents for Harlequin.…

IFA receives 19 Ombudsman decisions against it’s advice regarding UCIS investments and SIPPs

IFA Portafina LLP, who were previously registered with the FCA under the name Portal Financial Services LPP (trading as Portal Financial), have had no less than 19 complaints upheld by the Financial Ombudsman regarding their advice to put client money into Unregulated Collective Investment Schemes (UCIS) or similar High-Risk investments through SIPPs (Self-Invested Personal Pensions).…

Single IFA faces FCA restrictions after no less than 14 upheld Ombudsman complaints regarding high-risk investments into SIPPs

Kingswood Financial Advisors, a Mid Glamorgan based financial advice firm has had restrictions imposed by the Financial Conduct Authority that mean it can no longer transfer people’s pensions into SIPPs with Non-Standard Investments. The FCA notes say that the firm must not “carry out any regulated activities in relation pension switches and/or pension transfers to…

Bank House Mis-sold Pension Claim

Bank House Investment Management given tough new restrictions by FCA: Cease all regulated activity!

The Financial Conduct Authority has stepped up the restrictions imposed on Bank House Investment Management – a financial advice firm – meaning Bank House can no longer carry out any regulated activity. Previously, the regulator said that Bank House could no longer “Carry out regulated activities in relation to pension switches and/or pension transfers to any…