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Home / Mis-Sold Pensions / Final Salary Pension Transfer Claims / Final Salary Pension Adviser Claims / Gerard Associates Limited & Mis-Sold Pensions

Gerard Associates Limited & Pension Claims

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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.

Gerard Associates Limited

Gerard Associates Limited, based in Bristol, have been taken to task by the Financial Ombudsman Service 4 times over their advice and conduct, relating to pensions.

Now, Gerard Associates Limited has been told to “cease regulated activities for Pension Transfers” by the watchdogs at the FCA, at least until there has been independent verification that Gerard Associates meet the Threshold Conditions for Business.

Pension mis-selling cases have been on the rise over the past decade, with many advisers earning money by transferring valuable final salary pensions when it wasn’t in the client’s best interest to do so, and in other cases transferring and investing those pensions into high-risk situations such as SIPPs, SSASs and QROPS with high-risk investments.

In FOS case DRN8472650, the adjudicator said that “In my view the business process set up by Gerard Associates has all the hallmarks of being designed to avoid having to comply with the regulator’s rules.

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If you changed your pension with Gerard Associates, 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 Final Salary Pension Transfer 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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Gerard Associates timeline

2006 - Company Forms

Gerard Associates Limited is formed as a company in Bristol on the 12 July 2006.

2016 - TPR & London Quantum Retirement Benefit Scheme

In July 2016, it was announced that The Pensions Regulator had appointed Dalriada Trustees to administer London Quantum Retirement Benefit Scheme, after claims that it put almost £6million worth of pension savings at risk through “risky and illiquid investments”. Gerard Associates Limited was mentioned as being involved in the investment choices, and that it was paid £220,000 in fees.

April 2018 - FOS Decision

The Financial Ombudsman Services (FOS) publishes an upheld complaint against Gerard Associates Limited, involving the transfer of a Friends Life pension fund into the London Quantum Retirement Benefit Scheme, which was declared unsuitable as Mr C (the complainant) was a Retail Investor. This is detailed in FOS decision DRN7505988

June 2018 - Resort Group

A second FOS decision held Gerard Associates Limited accountable for their role in delays in a Mrs H receiving her 25% tax free cash sum from her pension. The case involved the transfer of her pension after a cold-call from First Review Pension Services, and subsequent investments in The Resort Group, a Managed Fund Element, Core Satellite Fund and Quantum Managed F Fund.
The decision is detailed in DRN8472650

Sept 2018

2 further FOS complaints were upheld against the firm. DRN9291941 involved the transfer of a defined benefits pensions into a QROPs scheme. Decision DRN2070364 involved the London Quantum Retirement Benefits Scheme.

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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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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Final Salary Claims

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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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