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10/07/2019
RSM, who have taken over as administrators of Berkeley Burke SIPP have taken the decision to stop their fight through the Court of Appeal over their SIPP due diligence case. For the last couple of years, Berkeley Burke have been in an ongoing legal battle after the Financial Ombudsman Service found them at fault for … Continued
05/15/2019
Complaints and claims about pension transfer and investment advice are on the rise again… With so many of us being told we’d be better off moving our pensions elsewhere, either after cold-calls or through financial advisers, it’s not too surprising to see there’s been an increase in complaints about pensions. What may be surprising is … Continued
04/25/2019
Thousands have lost money from mis-sold final salary pension transfers without realising it, even if it looks like their pension is growing!
03/11/2019
Financial advice firm Economic Financial Solutions IFA, which also went by the name of Torch Wealth Management, is set to pay a client compensation over SIPP pension advice. The Financial Ombudsman Service decided that Mr M’s complaint should be upheld, after he said he had suffered “severe financial losses” as a result of Torch Wealth … Continued
02/13/2019
Now several years on from when Carbon Credits investments were being plugged by marketing firms and IFAs as the go-to green investment for savers, one fraudster is on the run from the London Police. Sami Raja from Essex was sentenced to eight years for his part in £2.4 million fraudulent Carbon Credits scheme in January … Continued
02/05/2019
The Financial Ombudsman Service (FOS) has recorded another jump in complaints about SIPP pensions in the quarter leading to December 2018, new figures show. The 27% per cent increase saw complaints rise from 777 in the previous quarter, up to 1,029 complaints leading to December. SIPP mis-selling in the press While the SIPP mis-selling scandal … Continued
01/31/2019
The FSCS has said that it expects claims relating to SIPP pensions to rise by another 25% in 2019, with more firms being declared in default by the Financial Services Compensation Scheme. Often called ‘the lifeboat scheme’, the FSCS pays compensation to consumers that have lost money due to bad practices when the wrongful party … Continued
01/24/2019
There will be no ‘special treatment’ for offers of compensation to those mis-sold their British Steel pension transfer from the FSCS, it has been revealed. British Steel Pension Scheme members were given choices over what happens to their pension following the closure of the scheme, and many people received negligent advice to transfer their pension. … Continued
01/22/2019
Even in 2019, we’re STILL seeing claims made for negligent advice and actions leading to investments in high-risk hotel scheme Harlequin Properties. The financial adviser in question, Professional Intermediary Introducers based in Wales provided advice through their appointed representative to Mrs P in 2011. The advice resulted in Mrs P transferring her £110,000 personal pension … Continued
01/17/2019
Selectapension Bureau Services is now in liquidation, over a year after having its defined benefits pension advice authorisation restricted by the FCA via its principal company: CFP Management Ltd. The FCA can either impose or agree restrictions on a company’s ability to give advice if there are concerns over the advice they provide, or other … Continued
