10/01/2018
The Tunbridge Wells firm is now closed, after the FCA revoked their authorisation Foreman Financial Services, which often traded as GraingerCo has closed it’s doors after the FCA took action, apparently over the way it handled itself over a SIPP pension complaint. The FCA, which regulated all authorised financial services companies, took away GraingerCo’s ability … Continued
04/01/2018
The “Lifeboat” Compensation scheme is increasing levies to pay claims… If there was any doubt that a major UK SIPP mis-selling scandal is already underway then surely the news of yet MORE levy rises to help fund the FSCS would quash them. And that’s just what has happened this week, as the Financial Services Compensation … Continued
07/09/2017
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 … 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
24/07/2017
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. … Continued
20/07/2017
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 … Continued
13/07/2017
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 … Continued
05/04/2017
The Financial Services Compensation Scheme has been forced to take money from its reserves to pay compensation for the first time since the ‘banking crisis’ – something it puts down to a rise in the amount of claims being put forward. The FSCS automatically provides a life-boat for certain products and services regulated by the … Continued
03/04/2017
Suggestions that SIPP providers should pay more into the Financial Services Compensation Scheme pot, which helps compensate those who have suffered financial from things like bad advice, has been criticised by the Association of Member-Directed Pension Schemes. What is the Financial Services Compensation Scheme? The FSCS takes a levy from firms regulated by the Financial Conduct … Continued
21/03/2017
Our Expert: “More on the way, and not just relating to Blueinfinitas” The advice given by financial advice firm Blueinfinitas (itself declared in default by the FSCS) has generated over 166 claims with the FSCS, and more than £3million in compensation for clients who were mis-sold over the transfer of their pension into Self-Invested Personal … Continued
