Mis-sold Investment: Rock Capital Group City Park Fund considered unsuitable for Mr P

The Financial Ombudsman Service upheld the complaint against Greystone Financial Services Limited about the investment made through a SIPP As detailed in FOS decision DRN1107272, the Rock City Fund which had purchased large office space in a business park in Glasgow using significant amounts of borrowing and investor capital, got into trouble in 2011 before…

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FOS tells IFA Blackstar to pay client compensation over storage pod investments

BlackStar Wealth Management added to the long list of IFAs to give unsuitable SIPP pension advice over high-risk storage pod investments The Financial Ombudsman Service has ruled that Blackstar Wealth Management a complaint about a mis-sold pension from Blackstar Wealth Management should be upheld, after it was determined that advice for ‘Mr I’ to invest…

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How pension cold-calling scammers are already planning to dodge the cold-calling ban and take more pensions!

A TV documentary featuring Get Claims Advice Ltd as specialist consultants, has revealed just how unregulated introducers can loop-hole around the proposed pension cold-calling ban. The petition-driven ban against pension cold-calling, which would make it illegal for UK firms to call you out-of-the-blue about your pension, is currently on hold until after the general election,…

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Strand Capital DFM enters into Special Administration: What will happen to investor’s funds?

On the 17th May 2017, it was announced that London-based DFM, Strand Capital has gone into special administration, reportedly with over £85m under management across its portfolios on behalf of 3000 clients. Some clients who have already been in contact with Get Claims Advice were already aware that that Strand Capital was ready to be…

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1393 pension scams stopped by Phoenix since April 2013, but what about the rest?

Phoenix has revealed that is has prevented £29.14m worth of pension scams, spread over 1393 attempted transfers since April 2013, and like the team at Get Claims Advice, has said more needs to be done to break down the weapons in the scammer’s arsenal to stop scams. Making reference to the government’s potential ban on…

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Investors in St Lucia’s Freedom Bay may be waiting years for returns, and developers don’t have the money!

A letter from a major SIPP provider to investors in St Lucia’s Freedom Bay hotel investment has reported on problems with the property development, leading to a warning that investors may not see Freedom Bay finished, complete and paying returns for another 2 years or more! The letter seen by the team at Get Claims…

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The important, retirement-saving question you NEED to ask: How safe is your SIPP pension?

With even more pension transfers to SIPPs under scrutiny, and even more cases of pension mis-selling set to be received by the Financial Ombudsman in 2017/18, we challenge those who transferred into a SIPP to ask themselves an important, retirement-saving question: How safe is your SIPP pension? Following the success of ITV Tonight’s How Safe…

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Fraud trial dates to be set for Harlequin investment boss David Ames

Chairman David Ames, previously described as a ‘Walter-Mitty type character’, gets trial date set, but not until September 2018! Harlequin Properties – an unregulated and high-risk investment that promised to build hotels in sunny-spots like the Caribbean and make investors a fortune, has often been described by critics and commentators as “troubled”, but with Chairman…

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