Is Your Pension Safe? 25 more firms in default with the FSCS

The FSCS has declared another 25 firms in default, meaning that they are satisfied that the firms can’t pay claims made against them for things like negligent advice 25 more firms have been added to the ever-growing list of financial services outfits that don’t have the dough to pay claims for compensation made against them.…

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Bank House Investment Management tab picked up by FSCS – Compensation for IFA in default

The life-boat scheme will now pay out in cases of negligent advice by Bank House Bank House Investment Management, an IFA based in Cheltenham has now been declared in default by the FSCS, meaning that the compensation scheme is now satisfied that the firm can no longer pay out for successful claims against it for…

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£105MILLION paid out for SIPP pension mis-selling cases in 1 year! How safe is your SIPP pension?

The pension mis-selling scandal isn’t going away anytime soon – how do you know if YOU have been affected? The FSCS paid out around £105 Million in the year 2016-2017 for claims relating to SIPPs: Self-Invested Personal Pensions, much of which has been orchestrated by Claims Specialists like the team from Get Claims Advice, much…

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DFM Organic Investment Management suspends taking on new money to invest

Organic Investment Management made the decision after an FCA visit, but the reason is not publicly known at this time Discretionary Fund Management firm, Organic Investment Management has informed independent financial advisers that it is not currently accepting new business into any of its risk-based investment portfolios. The decision, announced to IFAs via an email…

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£16 Million in compensation, and a BIG Thank-You

Some people dread a Monday Morning, especially a rainy one like today’s. But the team of mis-sold pension claims handlers at Get Claims Advice are smiling today. Not only have we now (as of today) reached our £16 Million* milestone for compensation recovered on behalf of our clients who have been mis-sold their pensions, but…

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DFM Beaufort told to pay out over alternative investments that lost over £70k

The Financial Ombudsman told Beaufort Securities to pay a claim to one client who lost £71000 in high-risk investments as part of his DFM ran portfolio. Earlier in the year, Beaufort was asked by the Financial Conduct Authority to limit it’s permissions in regards to activities regarding DFMs. High-risk investments in DFMs Discretionary Fund Managers…

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IFA told to end relationships with unregulated introducers and cease all regulated activities before review – Asset Independent Financial Advisers Ltd

The FCA asked Asset Independent Financial Advisers Ltd to comply with their requests to cease work. Based in North Humberside, Asset Independent Financial Advisors Ltd has been authorised by the Financial Conduct Authority for well over a decade, but has now been asked by the regulator to cease all regulated activity introduced to them by…

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SIPP providers asked by Strand Capital administrators to consider paying their insurance after collapse

Administrators presiding over Strand Capital DFM have asked SIPP providers to consider paying the DFM’s insurance in the event that claims are made against it for losses. Strand Capital DFM, which is said to have over £86 Million under management, entered special administration back in May and had restrictions on it’s permission placed on it…

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SIPP and SSAS pension complaints jump by a third: is your pension safe?

The Financial Ombudsman Service’s annual report has shown that complaints about SIPP and SSAS pension arrangements has increased by over a third for the year leading up to the 31st March 2017. What are the SIPP and SSAS complaints about? Well, we know that a lot of the 1,574 complaints were against the financial adviser…

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