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

BlackStar Wealth Management Ltd Claims Guide

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You can do the claim yourself directly to the adviser or pension company for no charge. You can also approach the Financial Ombudsman Service and Financial Services Compensation Scheme for free if you wish for them to review your case, providing you have approached the adviser or pension provider first, and it falls within their remit.

BlackStar Wealth Management Ltd and Pensions

While many financial advisers are authorised by the FCA to give advice on whether final salary pension 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.

In fact, as of August 2019, the firm is now in administration, after it was revealed they gave poor advice on investments, including Dolphin (German Property), Beaufort Securities and Lateral Eco Parks.

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.

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If you changed your pension with BlackStar Wealth Management, you may be able to claim

You can do the claim yourself directly to the adviser or pension company for no charge. You can also approach the Financial Ombudsman Service and Financial Services Compensation Scheme for free if you wish for them to review your case, providing you have approached the adviser or pension provider first, and it falls within their remit.

Can you make a Blackstar Wealth Management claim?

Final salary pension transfers often mean the loss of defined benefits, including swapping a guaranteed income in retirement for more risk, and more fees. In many cases, people lose money in the transfer leaving them worse off in retirement.

If you transferred your final salary pension then you may have been mis-sold, and you could be able to make a claim for a mis-sold final salary pension transfer.

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BlackStar Wealth Management timeline

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

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.

2019 - 99 FOS Complaints & Collapse

In August 2019, it was revealed that the Ombudsman had received a whopping 99 complaints relating to Blackstar Wealth Management, mainly involving the ABC Bonds, Colonial Capital and Harlequin properties.

Blackstar Wealth Management finally entered into administration in August 2013

Could you be owed compensation for a mis-sold pension transfer?

Find out now with a free call back from one of our specialists

You can do the claim yourself directly to the adviser or pension company for no charge. You can also approach the Financial Ombudsman Service and Financial Services Compensation Scheme for free if you wish for them to review your case, providing you have approached the adviser or pension provider first, and it falls within their remit.

Less than 50% of transfer advice reviewed was declared suitable.

The FCA recently reviewed 154 pension transfers as part of an investigation into IFAs in 2018, and found less than 50% to have received suitable advice.

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Ready to make a claim with Get Claims Advice?

 

Receive a free call-back from a specialist to get started

You can do the claim yourself directly to the adviser or pension company for no charge. You can also approach the Financial Ombudsman Service and Financial Services Compensation Scheme for free if you wish for them to review your case, providing you have approached the adviser or pension provider first, and it falls within their remit.

Related to BlackStar Wealth


Final Salary Claims

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Defined Benefits

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Claims Process

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You can do the claim yourself directly to the adviser or pension company for no charge. You can also approach the Financial Ombudsman Service and Financial Services Compensation Scheme for free if you wish for them to review your case, providing you have approached the adviser or pension provider first, and it falls within their remit.

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