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Mis-labelled investments are like wolves in sheep's clothing

FCA concerns over mis-leading labelling of investment portfolios


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

Beaufort securities claims news and update

US Prosecutors charge Beaufort Securities with Fraud


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

Financial conduct authority survey

1 in 8 believe they have been mis-sold by their financial adviser


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

What is a non-standard asset?

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 … Continued

Why is the government banning cold-calls about pensions?


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

Enquiries about SIPP and pension transfers increase AGAIN, says Ombudsman


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

Car Park SIPP Claims

Furness Financial Management – 2 win claims for mis-sold pension advice


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