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Home / Mis-Sold Pensions / SIPP Claims / Financial Advisers and Mis-Selling / The Financial Factory Ltd and SIPP Claims

The Financial Factory Ltd SIPP 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.

The Financial Factory Ltd

As financial advisers based in Northern Ireland, The Financial Factory Ltd had rules to follow when giving people advice about their pensions, ensuring that their clients don’t take on more risk than they can afford with an unsuitable pension transfer.

But we know know that they didn’t always get their pension advice right, having facilitated some of their clients’ transfers into SIPP pensions to make high-risk and non-FCA regulated investments, like overseas property scheme Harlequin Properties.

Financial advisers should be making sure people have the knowledge and experience to handle investments like these, as well as the wealth and/or income to be able to take the risk on, before recommending high-risk investments like these.

Now, the Financial Factory Ltd is no-longer authorised by the Financial Conduct Authority, and have been declared in default by the FSCS, with 2 FOS decisions upheld against them for SIPP pension related mis-selling.

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Speak with a specialist claims handler today

If you changed your pension with The Financial Factory, 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 Financial Factory mis-selling claim?

It is a documented fact that The Financial Factory mis-sold some people their new pension arrangements, but did they mis-sell to you?

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.

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Financial Factory timeline

2008 - Company Formed

The Financial Factory Ltd is formed as a company in Northern Ireland.

2014 - Appointed Representative

In June 2014, the company went into insolvency proceedings, with a meeting that led to a Creditor’s Voluntary Agreement.

2017 - Ombudsman Decisions

In September 2017, 2 separate complaints were upheld against The Financial Factory Ltd, both involving advice to invest in Harlequin Properties through a SIPP pensions. You can read the first one here

2018 - Dissolved and in Default

By August 2018, the company was completed dissolved. The FSCS declared The Financial Factory in default the following month, meaning that any further claims against their advice would be considered by the Financial Services Compensation Scheme.

Could you be owed compensation for a mis-sold SIPP?

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.

We’ve made successful claims over Harlequin before

Click the button below to see an example of a Get Claims Advice claim that won £thousands – one of many!

See example claim

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 Financial Factory


SIPP Claims

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Harlequin

Read more


SIPP Providers

Read more
a Sophisticated investor
SOPHISTICATED INVESTOR Do you have a wealth of knowledge and experience in investing?
Compensation
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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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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