Car Park SIPP Claims

Furness Financial Management – 2 win claims for mis-sold pension advice

The FOS found in favour of the client in two cases involving unsuitable pension investments in SIPPs Furness Financial Management, no-longer authorised by the FCA and declared “in default” with the FSCS, was based in Staffordshire, and as of 2017 has 2 FOS decisions held against it, both relating to advice it gave clients about moving…

Bank House locked door

Bank House Investment Management tab picked up by FSCS – Compensation for IFA in default

The life-boat scheme will now pay out in cases of negligent advice by Bank House Bank House Investment Management, an IFA based in Cheltenham has now been declared in default by the FSCS, meaning that the compensation scheme is now satisfied that the firm can no longer pay out for successful claims against it for…

£105MILLION paid out for SIPP pension mis-selling cases in 1 year! How safe is your SIPP pension?

The pension mis-selling scandal isn’t going away anytime soon – how do you know if YOU have been affected? The FSCS paid out around £105 Million in the year 2016-2017 for claims relating to SIPPs: Self-Invested Personal Pensions, much of which has been orchestrated by Claims Specialists like the team from Get Claims Advice, much…

DFM stops taking new business

DFM Organic Investment Management suspends taking on new money to invest

Organic Investment Management made the decision after an FCA visit, but the reason is not publicly known at this time Discretionary Fund Management firm, Organic Investment Management has informed independent financial advisers that it is not currently accepting new business into any of its risk-based investment portfolios. The decision, announced to IFAs via an email…

dfm under fire

DFM Beaufort told to pay out over alternative investments that lost over £70k

The Financial Ombudsman told Beaufort Securities to pay a claim to one client who lost £71000 in high-risk investments as part of his DFM ran portfolio. Earlier in the year, Beaufort was asked by the Financial Conduct Authority to limit it’s permissions in regards to activities regarding DFMs. High-risk investments in DFMs Discretionary Fund Managers…

Asset IFA Limited The Resort Group

IFA told to end relationships with unregulated introducers and cease all regulated activities before review – Asset Independent Financial Advisers Ltd

The FCA asked Asset Independent Financial Advisers Ltd to comply with their requests to cease work. Based in North Humberside, Asset Independent Financial Advisors Ltd has been authorised by the Financial Conduct Authority for well over a decade, but has now been asked by the regulator to cease all regulated activity introduced to them by…

Strand Capital Problems

SIPP providers asked by Strand Capital administrators to consider paying their insurance after collapse

Administrators presiding over Strand Capital DFM have asked SIPP providers to consider paying the DFM’s insurance in the event that claims are made against it for losses. Strand Capital DFM, which is said to have over £86 Million under management, entered special administration back in May and had restrictions on it’s permission placed on it…