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Like many financial advice firms, Demontfort Wealth Management Ltd advised on pension transfers, but unlike all IFAs, Demontfort was held to account by the Financial Ombudsman for unsuitable advice when they suggested to a MR G that he move his pension to a SIPP to invest in high-risk and unregulated investment, Sustainable AgroEnergy.
Now, they’re no longer authorised by the Financial Conduct Authority, and cannot conduct regulated activities such as advice on pension transfers.
Did you take pension advice from Demontfort Wealth Management? Have you checked to see if you can make a SIPP claim?
And many other bio-fuel and green oil schemes through SIPPs.
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The ombudsman decided that Demonfort’s advice wasn’t suitable, in part because of how risky the investment was. To take on this level of risk, you’re supposed to fit some of the descriptions below:
Do you have a wealth of knowledge and experience in investing?
Do you earn in excess of £100,000 per annum?
Or do you own £250,000 worth of investable assets?
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