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The Ultimate Cherish Wealth Management Claims Guide

After having been found to have mis-sold many SIPP pensions, Solihull based financial advisers Cherish Wealth Management Limited no-longer themselves as providing “effective financial advice which clearly reviews, discusses and ultimately meets each individual or organisation’s specific financial requirements”.

In fact, they don’t describe themselves as anything at all, having closed down and gone into liquidation in 2016, leaving their legacy behind them.

Since 2015 the team at Get Claims Advice has worked furiously on a flurry of claims against the advice provided by Cherish Wealth Management Limited, to generally great success, and we still take on Cherish Wealth Management cases to this day.

We even appeared as industry experts on ITV Tonight’s How Safe Is Your Pension? which focused on Cherish Wealth Management and related investments, such as InvestUSEthical ForestryVenture Oils and Global Plantations

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Can you make a Cherish Wealth Management claim?

Several financial advisers and the FSCS have been paying out compensation for mis-selling investments via SIPPs and SSASs for a few years, with Get Claims Advice often leading the claim.

If you:

  • Transferred your pension to a SIPP
  • Made high-risk investments
  • Aren’t earning over £100k per year
  • Aren’t a Sophisticated Investor

Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.

Cherish Wealth Management Liquidation

When financial advisers mis-sell SIPP pensions and investments to their clients, they may be forced to pay compensation through mis-sold pension claims.

Whether they have enough money to pay all the compensation is a different matter. Depending on what level of professional indemnity insurance they have, and how much they’ve got in the bank, a single claim can sometimes bring down a company because of the damage it can do to that single client’s retirement fund.

In the case of Cherish Wealth Management, it quickly went into insolvency proceedings and into a liquidation: this is where an external team of professionals are brought in to break up the company, and potentially sell its assets to pay back creditors (such as claimaints!).

When a company cannot pay claims and goes into liquidation as Cherish Wealth Management did in 2016, the FSCS may step in to pay claims on the company’s behalf – a safety net to make sure those who have been mis-sold get the compensation they deserve.

If you switched or transferred your pension with Cherish Wealth Management, or took investment advice from them, you may be able to make a claim.

Cherish Wealth Management timeline

2008 - Cherish formed

Cherish Wealth Management is created, with Steven Edward Wright as one of the directors.

2010 - Appointed Representative

Cherish Wealth Management becomes an Appointed Representative of Shah Wealth Management.

2011 - Wright resigns

Steven Wright resigns as director on 6 November 2011.

2013 - Real Estate Investments USA

Steven Wright signs on as director at Real Estate Investments USA Plc (InvestUS), a high-risk overseas property investment, later advised on by Cherish Wealth Management. Wright denies a conflict of interest.

2015 - First enquiries

The team of mis-sold pension claim specialists at Get Claims Advice receive their first enquiry from a member of the public about Cherish Wealth Management’s SIPP pension advice.

2016 - Liquidation

Articles spring up in financial news outlets such as CityWire about Cherish Wealth Management’s liquidation, linked with SIPP advice and high-risk investments.

2017 - ITV Tonight

ITV Tonight’s How Safe Is Your Pension airs in May, and focused heavily on the relationship between Cherish Wealth Management, InvestUS, and Steven Wright. Get Claims Advice appeared on the show as industry experts, after accepting multiple claims against the advice Cherish gave.

2019 - Successful claims

We’re happy to say that we’ve won hundreds of claims for our clients who took negligent pension advice from Cherish Wealth Management.

ITV Tonight and Cherish

With pension mis-selling becoming a hotter and hotter topic in the press and in parliament, it was no surprise to our team to see ITV Tonight take an interest in what had been happening at Cherish.

ITV Tonight’s How Safe Is Your Pension?  aired in May 2017 and focused on Cherish Wealth Management, InvestUS and the connections between the firms through Steven Wright.

Get Claims Advice were more than happy to lend our knowledge and experience by way of an interview with our Director Luke Sharman as part of the program.

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We’ve made successful claims against Cherish Wealth Management before

Click the button below to see an example of a Get Claims Advice claim that won £50,000* for a Cherish client – one of many!

See example claim

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Cherish Wealth Management FAQ's

What is the connection between Cherish Wealth Management and InvestUS?

Real Estate Investments USA and Cherish Wealth Management both shared the same director, Steven Edward Wright, but not at the same time.

Wright left Cherish Wealth Management and became a director of Real Estate Investments USA. Cherish then advised (often unsuitably leading to claims) on many SIPP investments in Real Estate Investments USA.

Wright has always denied a conflict of interest. The connection was exposed publicly on the ITV Tonight show in May 2017.

Is Real Estate Investments USA high-risk?

InvestUS/Real Estate Investments USA/Exit Strategy are all considered to be high-risk investments because they are not regulated by the FCA.

With assets based abroad, they sit outside the remit of the Financial Conduct Authority.

High-risk investments are not generally considered suitable for average, or ‘retail’ investors, and these schemes were widely mis-sold.

What happened to the Cherish Wealth Management directors?

As shown in the ITV documentary, two former Cherish directors went on to form a new company – Cherish Premier Wealth.

The firm however is not regulated to provide financial advice.

a Sophisticated investor
SOPHISTICATED INVESTOR Do you have a wealth of knowledge and experience in investing?
HIGH NET-WORTH 1 Do you earn in excess of £100,000 per annum?
High net worth individual
HIGH NET-WORTH 2 Or do you own £250,000 worth of investable assets?

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