Foreman Financial Services Ltd / Graingerco

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MIS-SOLD PENSIONS AND GRAINGERCO

Financial advice firm Foreman Financial Services Limited, which traded as Grainger Co from their Tunbridge Wells office, is now No-Longer Authorised by the Financial Conduct Authority as of late October 2017, meaning it can no-longer carry out regulated activities such as providing clients with financial advice.

Furthermore, a notice replacing the front-page of the Grainger Co website told visitors that “Foreman Financial Services LTD (trading as Grainger Co Financial Services) has permanently ceased trading”.

In FOS decision DRN9652493, a complaint against Foreman Financial Services Ltd was upheld regarding their advice to a Mr S to invest in high-risk property investments through a SIPP without properly assessing whether the investment was suitable for him.

WANT TO KNOW IF YOU CAN CLAIM?

The team at Get Claims Advice are currently looking into the circumstances surrounding Grainger Co’s closure and change in FCA authorisation status, and are looking for former and current clients of Grainger, particularly those who took advice to enter into a SIPP (Self-Invested Personal Pension).

Get Claims Advice operate a FREE and NO-OBLIGATION pension advice check, which tells you whether we think there may have been a problem with the pension advice you received, and whether you may be able to make a claim on a NO WIN – NO FEE* basis.

Timeline of events: GraingerCo

2003 - Foreman Financial Services Ltd

It all begins in 2003 when Foreman Financial Services starts trading, with GraingerCo financial services as a trading name.

2016 - Ombudsman Complaints

In September it was revealed that Foreman Financial Services gave a Mr S advice back in 2011 about investing a SIPP pension in now troubled and infamous investment Harlequin property.

The complaint was upheld and published.

2017 - Portfolio Six

Another high-risk investment (or rather a portfolio of investments created by Greyfriars) becomes involved GraingerCo told Mr N to invest in it through his pension in 2014.

Again, the FOS upheld the complaint against GraingerCo

2018 - Witholding payment

In 2018, it was reported that the watchdogs at the FCA had cancelled GraingerCo’s permissions to give pension advice, after it had refused to pay compensation it owed a former client.

GraingerCo could no-longer conduct regulated activity.

2018 - Declared in FSCS Default

In September 2018, Foreman Financial Services was declared in Default with the FSCS, meaning that the FSCS will consider paying claims for formed clients of the firm, and will pay them if successful.

Did you know, we’ve made successful claims over high-risk SIPPs before?

Our team are geared up for this kind of claim.

VIEW EXAMPLE

Ready to make a claim?

Think you’ve been mis-sold your investment? Click below to take the first step to making a claim

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Have a question about Graingerco Investments?

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How might you have been mis-sold?

If you transferred into a SIPP and into high-risk investments, then you may have been mis-sold if you didn’t know they were high-risk, or don’t fit any of the descriptions below:

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    SOPHISTICATED INVESTOR

    Do you have a wealth of knowledge and experience in investing?

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    HIGH NET-WORTH 1

    Do you earn in excess of £100,000 per annum?

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    HIGH NET-WORTH 2

    Or do you own £250,000 worth of investable assets?

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