A deeper look at your SIPP might set you at ease, or give you more questions than answers… PASA chairman says £1bn from pensions could have been lost to scammers Tip of the pension mis-selling scandal iceberg Example of a mis-sold pension According to the chair of the Pensions Administration Standards Association, Margaret Snowdon, people…Details
Is the true scale of pension mis-selling becoming too big to ignore? 13,000 interviewed by FCA 13% of those surveyed said they felt mis-sold Same percentage felt they received other bad advice How to spot your own mis-sold pension The FCA has conducted its 2017 Financial Lives Survey, asking 13,000 people about their personal financial,…Details
FCA probes SIPP providers about number of non-standard investments – what does it mean for your pension?
Has high-complaints driven the FCA to weigh up options about mis-sold pensions? Regulator asks SIPP providers to show their cards Non-standard investments focal point on investigation What IS a non-standard Investment? Could you be effected? The Financial Conduct Authority has asked all providers of Self-Invested Personal Pensions (SIPPs) to reveal the details of any non-standard…Details
Former directors of Designed 4 Life Ltd buy client data from liquidator Can old client’s expect a call? FSCS pays out over £500k for Designed 4 Life Advice Phoenixing? Are you entitled to make a claim? The former directors of liquidated advice firm Designed 4 Life have bought the company’s client data from the liquidator,…Details
Transferred your Defined Benefits Pension? The regulator says that over 50% of transfers were not deemed suitable!
Was your defined benefit pension transfer the right decision? Or do you have a claim? The Financial Conduct Authority has conducted a review of 88 pension transfers, in which people had taken advice from a regulated independent financial adviser to move their Defined Benefits pension into something else, only to find that only 47% of…Details
The list of FCA restrictions to Beaufort operations seems to be growing Beaufort Asset Clearing Services Limited is the latest section of Beaufort to have restrictions added to it’s FCA register record, in this case meaning that the Asset Clearing wing must “cease to accept new monies or assets”, including from either “new or existing…Details
This means that the FSCS is convinced that the DFM can’t pay claims made against it The Financial Services Compensation Scheme has declared that Discretionary Fund Manager, Strand Capital, is now in default and cannot pay claims to clients or former clients. It also means that the FSCS is likely to have to step in…Details
The same firm was ordered to pay a client compensation by the FOS for mis-selling investments through SIPPS A new list of 17 advice firms who have been declared “in default” with the FSCS has been published via a press release, featuring Medical and Professional Financial Management, an Edinburgh based firm that is no-longer authorised…Details
Gleeson Bessent Trustee Services and Gleeson Bessent Trustees offered high-risk investments to ordinary investments as part of their pension schemes. Following an investigation by the Insolvency Service, the High Court has wound-up two pension trustees which administrated over 9 different pension schemes, all of which were occupational, including Focusplay Retirement Benefit Scheme, as well as…Details
The DFM’s auditor had a shareholding in the firm, as well as a pension scheme! Organic Investment Management, which had it’s FCA permissions restricted earlier this year so it can no longer accept new money, has now been told to re-submit it’s 2016 accounts, after it was revealed that accountant Roger Bessent “had a stake”…Details