Former clients of financial advisers J Richfield – trading as Sovereign Financial Services may be interested to know that as of the 30th of May 2017, the firm is in liquidation, with Vincent John Green and Mark Newman as Joint Liquidators of the IFA.
Further to that, the Financial Conduct Authority – the FCA – has told Sovereign/J Richfield “not to undertake UCIS Activities”, before later cancelling their authorisation all together.
SOVEREIGN, UCIS INVESTMENTS & SIPP PENSIONS
UCIS investments can be a problem if you’re not suitable for them. Unregulated Collective Investment Schemes are NOT under the jurisdiction of the FCA, meaning that investors don’t get any help from the Ombudsman or FSCS when they go wrong.
Both Carbon Credits Schemes and Land Banks like the Cadnam Plot are classic examples of high-risk investments that could (and often do) destroy people’s pensions, and both of these investments are known to have been on the books for some J Richfield clients.
Timeline of events: Sovereign Financial Services
2005 - Intro Capital
Intro Capital – the firm that would later involve the Cadnam Plot investment begins.
2010 - Company Formed
J. Richfield was officially registered by the 23 July 2010 in Aylesford, Kent.
2017 - Insolvency
J Richfield goes into insolvency proceedings, resulting in a Creditor’s Voluntary Liquidation
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Why are high-risk investments a problem?
They become a problem when they get sold to the wrong people.
If you’ve invested in high-risk investments, but don’t fit any of the descriptions, then you may have been put at more risk than was sensible, and you may have a claim waiting.
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 2
Or do you own £250,000 worth of investable assets?