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 to give financial advice after the firm did not respond to repeated requests from the Financial Ombudsman to pay their former client compensation over a high-risk investment they advised the client to go into through their SIPP, which later lost the client money – Harlequin Property.
GraingerCo, which has 2 other FOS complaints upheld against it relating to SIPPs, posted that it was closing its doors on it’s website some time ago.
What this means for GraingerCo clients
Well, if you’ve invested your SIPP with GraingerCo, you may want to check what investments you have made inside it! Both the Harlequin Property investment, and a lot of the Greyfriars Portfolio Six investments were considered to be high-risk, non-standard assets – not exactly suitable for your average pension holder!
GraingerCo may have dug their heals in over their FOS complaint, but that’s no reason to be deterred from making a claim if you have one, with the possibility of FSCS claims looming.
If you dealt with Foreman Financial Services over your pension and want to know if you have a claim, then get in touch with the SIPP Claims specialists at Get Claims Advice for a free initial assessment to see if YOU can make a No Win – No Fee* claim!
*No Win – No Fee: Success Fee charged at 24% (inc VAT) of any compensation awarded to the claim. 14 day cooling-off period where cancellation for any reason is free of charge. After which a cancellation fee may be applicable, capped at £750.