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Home / Mis-Sold Pensions / Final Salary Pension Transfer Claims / Final Salary Pension Adviser Claims / BlackStar Wealth Mangement Ltd

BlackStar Wealth Mangement Ltd

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While many financial advisers are authorised by the FCA to give advice on whether final salary transfers are suitable for their clients, BlackStar Wealth Management is no-longer one of them.

Previously authorised, BlackStar had it’s defined benefit pension authorisation restricted under a section 166.

The firm also cannot do any business involving non-standard assets (such as high-risk and unregulated investments).

The FCA has the power to remove or restrict the authorisation of any firm to give pension advice if it has concerns over the advice that is being given.

A former client of BlackStar Wealth Management won their case against BlackStar over unsuitable SIPP advice through the Ombudsman.

If you took pension advice from BlackStar then you may have been mis-sold. Take a free initial assessment with our specialist claims team to find out.

Timeline of events: BlackStar Wealth Management Ltd

2008 - Company Forms

BlackStar Wealth Management forms as a Ltd company on the 15th September 2008, original registered in London and later based in Sutton Coldfield.

2017 - Restricted by the FCA

Although it does not seem to be public knowledge about WHEN and HOW the FCA restricted BlackStar’s advice permissions, the firm was mentioned as being restricted in an article back in 2017.

2017 - FOS Decision

A complaint against the firm relating to financial loss due to SIPP pension and investment advice was upheld in 2017.

2018 - Named in the press

Citywire names 13 financial advice firms that have had their pension transfer permissions restricted since 2015, including BlackStar.

Did you know, less than 50% of transfer advice reviewed was declared suitable?

The FCA recently reviewed 154 pension transfers, and found less than 50% to have received suitable advice.

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