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Bust Pension Provider

What happens if my pension provider goes bust?

02/06/2021

How do I protect my pension if my pension provider goes bust? When it comes to something as precious as our pension, it can be devastating if something happens to it – especially if it’s completely out of our control. Fortunately, there are a number of government regulations in place to make sure that if … Continued

Financial Misselling Claims

Mis-sold pensions on the rise in financial mis-selling claims

01/06/2021

Estimated £1 billion compensation for mis-sold pension victims Mis-sold pension compensations are anticipated to hit £1 billion by 2022 but this is likely to be a reduced figure as victims are given reduced payments due to delays in complaint management, as reported in the FT Advisor. The Financial Services Compensation Scheme has dished out an … Continued

Footballer Missold Pensions

Seven ex-footballers in mis-sold pension battle

11/01/2021

Seven ex-footballers in mis-sold pension battle 7 former footballers have launched a High Court claim for money losses relating to mis-sold pension advice provided by Kevin Neal, a former director of a series of defunct financial advice firms. Mr Neal had already been previously sued for £100,000 by former England and Newcastle striker, Alan Shearer, … Continued

Mis-sold Pensions

Court grants appeal against Carey Pensions in mis-sold SIPP Lawsuit

15/10/2020

Carey Pensions Court Appeal   Russell Adams, who two years ago decided to take Carey Pensions (now better known as Options Pensions) to court over a mis-sold SIPPs (Self Invested Personal Pensions), claiming they had used a spanish-based unregulated introducer for investments in Store First Unit Pods which were deemed “worthless” and “unsuitable”. Has now … Continued

Berkeley Burke Court of Appeal case dropped by administrators

Berkeley Burke Court of Appeal case dropped by administrators

07/10/2019

RSM, who have taken over as administrators of Berkeley Burke SIPP have taken the decision to stop their fight through the Court of Appeal over their SIPP due diligence case. For the last couple of years, Berkeley Burke have been in an ongoing legal battle after the Financial Ombudsman Service found them at fault for … Continued

3 reasons to check your pension advice for misselling

3 quick stats that show why you should check your pension advice

15/05/2019

Complaints and claims about pension transfer and investment advice are on the rise again… With so many of us being told we’d be better off moving our pensions elsewhere, either after cold-calls or through financial advisers, it’s not too surprising to see there’s been an increase in complaints about pensions. What may be surprising is … Continued

A torch shining a blue light

Torch Wealth Management to pay up over SIPP advice

11/03/2019

Financial advice firm Economic Financial Solutions IFA, which also went by the name of Torch Wealth Management, is set to pay a client compensation over SIPP pension advice. The Financial Ombudsman Service decided that Mr M’s complaint should be upheld, after he said he had suffered “severe financial losses” as a result of Torch Wealth … Continued

Mis-sold carbon credits pension claims

Liberty SIPP makes the news with more links to high-risk investments

16/01/2019

SIPP pension provider Liberty SIPP is again ‘under fire’ over its links to high-risk and unregulated investments. Some SIPP companies allowed investments in alternative schemes, often based abroad and not regulated by the watchdogs at the FCA, including Liberty SIPP. Often linked to the Ethical Forestry situation, in which the Costa Rican forestry scheme entered … Continued

Man confused over financial advisers responses

Financial advice firm refuses to declare that it gave advice over SIPP

10/12/2018

Lighthouse Advisory Services – a principal IFA that has operated with several Appointed Representatives, has been told to pay compensation to a client by the Financial Ombudsman, because it refused to sign paperwork declaring that it gave financial advice. In a recently published financial ombudsman case, Mr B was given advise to transfer his two … Continued