03/10/2019
Blackstar Wealth Management entered administration in August 2019 A financial advice firm that is known to have transferred people’s final salary pensions into SIPPs filled with high-risk and unregulated investments has entered into administration. Based in the West Midlands, Blackstar Wealth Management Ltd which operated as a registered business from 2008 appointed Andrew Fender of … Continued
02/05/2019
Over 400 claims upheld by Financial Services Compensation Scheme over Henderson Carter Final salary pension transfer problems High-risk investments mis-sold to clients How Get Claims Advice has helped The FSCS – a source of compensation for people who have suffered from a mis-sold pension transfer, has said that it has dealt with 625 claims regarding … Continued
08/04/2019
Transferred a pension in the last 15 years? You may have received bad advice that could put your retirement at risk. Thousands mis-sold Final salary pension transfers often not what they seem Many SIPP pensions still involved in scams How to check for mis-selling claims A new study by the Pension Scams Industry Group (PSIG) … Continued
14/02/2019
We know final salary pensions can be confusing. Here’s some answers about defined benefit pensions that might just help you get your head around them. This article is for information purposes only and is not financial advice – if you are looking for advice or considering changes over your own final salary pension, always seek … Continued
06/02/2019
The Financial Conduct Authority’s Action Fraud team has released a figure for the amount of money lost to investment scams in 2018: a staggering £197m. On average, each scam victim in 2019 lost £29,000. What does an investment scam look like? The recent findings came were extra information: investment scams are changing, and usually involved … Continued
31/01/2019
The Financial Services Compensation Scheme which pays consumers compensation when regulated companies can’t (either because they have no money, or no-longer exist), is set to levy £175m in 2019 from financial advisers. All FCA regulated companies pay a levy to the FSCS, helping to ensure there is always a pot of money there to pay … Continued
28/01/2019
The pension mis-selling scandal is now finally making headline news with mainstream media companies, with The Times dedicating a large segment to the issue of mis-sold SIPP pensions and high-risk investments. The article focused on how thousands of pension savers were persuaded by unregulated marketing companies and financial advisers to transfer to SIPP pensions, and … Continued
24/01/2019
The Pensions Regulator, which acts as a watchdog for workplace pension schemes, including valuable Defined Benefit pensions, has agree to share market intelligence with the Financial Conduct Authority. While remaining separate, the FCA may well gain vital intelligence about the movement of final salary pensions out of the market, which could prove useful as it … Continued
21/01/2019
Greyfriars Asset Management, which handled many aspects of people’s retirement funds including SIPPs and portfolios of investments, has sold it’s SIPP and SSAS business to Hartley Pensions, following it’s collapse in 2018. Updates on the firm’s Companies House entry show that the sale went ahead for a value of £820,000. £500m in assets Heavily involved … Continued
16/01/2019
It’s now one week since the long-awaiting ban on pension cold-calling came in to effect, and this week The Pensions Regulator has told financial advisers to do more to report potential pension scams so authorities can take action earlier. Over the past 15 years, many people with valuable final salary pensions have been bombarded by … Continued
