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NEWS: Berkeley Burke in Administration over mis-sold pensions

09/19/2019

SIPP pension provider now in insolvency proceedings The pension provider at the centre of a high-profile court case, Berkeley Burke SIPP Administration Limited, has followed other SIPP providers into administration. Berkeley Burke appointed Adrian Allen and Diana Frangou of RSM Restructuring Advisory LLP to be the joint administrators over the firm’s insolvency proceedings, with many … Continued

financial adviser reveals his true face

Is your DFM investment portfolio a scam?

04/17/2019

The FCA has warned that it has seen an increase in scams ran through discretionary fund managers – often a part of SIPP pensions. DFMs are portfolios of investment bonds The bonds are chosen and managed Portfolios are often rated by risk Many DFMs may involve scams Did you move your pension to a SIPP … Continued

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10 signs of a pension scam revealed

03/05/2019

Back in 2015, the Pensions Scams Industry Group (PSIG) was voluntarily set up to look into the causes of pension scams – a huge part of the fight against people losing their pensions. Using data collected from three different pension providers, they’ve probed into over 27,000 pension transfers from Defined Benefits pension schemes worth over … Continued

a gravel and handcuffs lie on a keyboard

Pension Scams: Organised crime groups sometimes involved

02/12/2019

A cross-organisation task force called ‘Project Bloom’ has indicated that a number of ‘fraudster families‘ are often involved in pension scams. Project Bloom is made up of staff from the National Crime Agency and The Pensions Regulator, and says that organised crime groups sometimes use ‘rogue advisers’ to target and scam people out of their … Continued

A closed sign in a window

Consumer Wealth Ltd goes into liquidation

02/04/2019

Consumer Wealth Ltd, a financial advice firm that was facing 13 complaints via the Financial Ombudsman, has gone into liquidation. The firm went into a solvent liquidation back on the 14 January 2019 with RMS as liquidator. Complaints to the FOS The Financial Ombudsman Service, which is there to settle disputes between consumers and financial … Continued

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1,400 Beaufort clients still waiting for compensation

01/30/2019

The FSCS has released figures that show another 754 former clients of collapsed Beaufort Securities have been paid compensation, while another 1,400 clients who ‘still require compensation’ are in waiting. That makes it 16,100 former Beaufort Securities clients who have received compensation since the firm went under, following an undercover FBI sting. Why are Beaufort … Continued

tyre tracks

Is the pension cold-calling ban effective?

01/22/2019

Its less than a month since the ban on pension cold-calling became enforceable, designed to protect people’s pensions from scammers and mis-sellers, and to raise awareness of the pitfalls of pension mis-selling. But one firm has already ‘boasted’ of finding a way to ‘swerve’ the ban. As reported in Citywire, Adviser Breakthrough which is an … Continued

Mis-sold carbon credits pension claims

Liberty SIPP makes the news with more links to high-risk investments

01/16/2019

SIPP pension provider Liberty SIPP is again ‘under fire’ over its links to high-risk and unregulated investments. Some SIPP companies allowed investments in alternative schemes, often based abroad and not regulated by the watchdogs at the FCA, including Liberty SIPP. Often linked to the Ethical Forestry situation, in which the Costa Rican forestry scheme entered … Continued