Scam Sharks Already Circling Carillion Pension Scheme Holders

Echoes of 2017’s British Steel Pension Scammers An article in FTAdviser has told how pension scammers may already be “circling” the 28,0000 Carillion pension scheme members following the collapse of the business group this week in order to get a slice of the potential pension pie. Carillion, which has run a Defined Benefit pension scheme for some…

Details

“InvestUS” Exit Strategy to explore winding-up options after investor requests

Steve Wright expressed his intentions in a December 2017 Exit Strategy Update Exit Strategy – the high risk and FCA-unregulated US housing investment, often sold to UK investors via their SIPP pensions has outlined another “turbulent year” for the investment, placing the majority blame for a range of difficulties on the ongoing effects of the Right…

Details

FSCS add J. Richfield and Cumulus Investment Management to default claims list

It means that the FSCS will pay out on successful claims against both companies The FSCS has declared 15 firms in default, meaning that the Financial Services Compensation Scheme is satisfied that the company can no-longer pay out compensation to people who have received negligent financial advice from the firm. J Richfield J. Richfield, which also…

Details

Transferred your Final Salary pension recently? The FCA will be questioning your adviser…

The financial services regulator is concerned with dodgy DB transfer advice Transferring a Final Salary of other type of defined benefit pension can sometimes be presented to you as a no-brainer: a supposedly “simple and effective” way to generate more money for retirement by moving your pension away and investing it into something that will…

Details

Foreman Financial Services (GraingerCo) ignores Ombudsman over mis-sold SIPP complaint

The Tunbridge Wells firm is now closed, after the FCA revoked their authorisation Foreman Financial Services, which often traded as GraingerCo has closed it’s doors after the FCA took action, apparently over the way it handled itself over a SIPP pension complaint. The FCA, which regulated all authorised financial services companies, took away GraingerCo’s ability…

Details

Premier Financial Solutions (Harrogate) Limited found to have mis-sold Rimondi Grand investment through SIPPs

The firm has now applied to cancel its FCA Authorisation It sometimes seems hardly a week goes by without another firm either relinquishing or being forced to relinquish it’s FCA authorisation or permissions, meaning it can no-longer provide financial advice (or at least about pension transfers into SIPPs). This week, we’re reporting on Premier Financial…

Details

The ‘SIPP Claims Scandal’ gets bigger: FSCS seeks more funding to pay mis-sold pension claims

The “Lifeboat” Compensation scheme is increasing levies to pay claims… If there was any doubt that a major UK SIPP mis-selling scandal is already underway then surely the news of yet MORE levy rises to help fund the FSCS would quash them. And that’s just what has happened this week, as the Financial Services Compensation…

Details

“Feeding Frenzy” of financial advisers surround Port Talbot Steel Pensions

Channel 4 News reported from the scene as “Greedy” financial advisers try to cash-in on steel misery In a Channel 4 News report, some financial advisers were said to be being driven by “greed” as advisers from all over the country were “parachuting in” to aggressively advise on British Steel Pension transfers. Financial advisers can…

Details

Two more financial advisers agree to stop pension transfer advice over British Steel

Following the news that Active Wealth (UK) had agreed to stop advised on Final Salary pension transfers over FCA concerns about British Steel Pension Scheme holders, a further two financial advisers have been named. Mansion Park Leicestershire based Mansion Park Limited apparently has a staff of 20 regulated staff members, and now has a note…

Details