16/07/2018
Do you really know if your SIPP portfolio investments are “cautious”? The UK regulator has criticised some investment platforms for labelling investment portfolios in a may that may “mislead” customers about the risk the investments present. Many investment companies build portfolios of investments, and label them with names such as “cautious”, “Conservative” or “balanced”, but … Continued
05/03/2018
UK & US authorities teamed up to investigate Beaufort Securities Limited for “securities fraud” Beaufort Securities, which helped clients build collections of investments, has been charged with fraud by the US Department of Justice, following an investigation that involved multiple other “conspirator” firms/individuals, and an undercover sting involving a Picasso painting. The UK’s own financial … Continued
24/01/2018
The Pensions Regulator has successfully won a High Court fight against not one, but FOUR pension scammers to repay nearly £14million over the next two years over the mis-sold pension scam that they ran. Susan Dalton, Julian Hanson, Sammers David Austin and Alan Barratt lost the case on the 23 January, and other victims of … Continued
19/10/2017
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 … Continued
18/10/2017
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, … Continued
17/10/2017
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 … Continued
05/10/2017
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 … Continued
21/08/2017
It’s not just because they’re a nuisance The UK government is getting ready to BAN the practice of cold-calling in an effort to curb the huge increase in mis-sold and fraudulent pension schemes and transfers. While not all mis-sold pensions involve a cold-call from a marketing company, many do, as high-risk pension arrangements such as … Continued
15/08/2017
Are you sat on a SIPP complaint? The FOS (Financial Ombudsman Service) has published figures that show a 59% increase in enquiries relating to Self-Invested Personal Pensions (SIPPS) in Q1: April – June 2017, along with a rise in complaints regarding pension transfers. The service which has the power to force companies to pay clients compensation … Continued
27/07/2017
The FOS found in favour of the client in two cases involving unsuitable pension investments in SIPPs Furness Financial Management, no-longer authorised by the FCA and declared “in default” with the FSCS, was based in Staffordshire, and as of 2017 has 2 FOS decisions held against it, both relating to advice it gave clients about moving … Continued
