Cool Blue Samui is an HIGH RISK Overseas Property Investment, unregulated by the Financial Conduct Authority. Investors were invited to fund a villa complex on the heavily developed island of Koh Samui, Thailand, often in exchange for some high-projected returns, often to be paid into their SIPP Pension.
Because it is high risk, Cool Blue Samui and other overseas property investments are often only suitable for people who are:
If you do NOT fit either of these descriptions, or were not told that your Cool Blue Samui investment would be high risk, you may have been mis-sold your pension investment, and could be able to make a claim against the negligent advice of your financial adviser for placing you into a Cool Blue Samui investment.
We’ve helped recover over £80Million* from mis-sold pensions, and each one started with a FREE initial assessment.
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Several financial advisers and the FSCS have been paying out compensation for the mis-selling of Cool Blue Samui and similar investments via SIPPs and SSASs for a few years, with Get Claims Advice often leading the claim on a No Win – No Fee* basis.
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
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SIPPs allow greater choice for investments for pension savers, but this can also sometimes include high-risk investments.
Many people invested in Cool Blue Samui, and while some of those people will have gone into the investment with their eyes wide open in full knowledge of the risks it presented based on their own wealth of investment experience, many will have not known that this was always a high-risk investment.
If the investment was to fail, and the majority of money inside the SIPP was invested in it, it could devastate the pension completely.
Because unregulated investments have no protection from the FSCS if they fail, recovery could be difficult.
However, if it can be shown that a financial adviser provided negligent financial advice over a final salary pension transfer or investment in something like Cool Blue Samui, you may have a claim.
The Q2 update from Kudos didn’t sound too good:
The project became reliant on funding from external investment […] FCA changed the rules on investment promotions which made it more difficult to raise funds from investors […] more funds would have to be spent of administration…”
“The decision has unfortunately made that the project has become uneconomic”
“We are now looking to sell the project”.
Click the button below to see an example of a Get Claims Advice claim over a mis-sold Cool Blue investmentSee example claim
How much compensation you may be able to claim depends on several factors, including whether your claim is eligible, how much you invested, how much you lost and who may have given you advice.
We’ve seen plenty of claims go through for mis-sold high-risk SIPP investments, some worth a few thousand, some worth £50,000* (The maximum that can often be claimed via the FSCS if a financial adviser is no-longer operating), and a few that stretched into the hundreds of thousands.
Its always difficult to say how much compensation a claim could be worth until its done, but if you were sold Cool Blue as part of a SIPP investment, your initial assessment phonecall with Get Claims Advice is free when you use our call-back service, and you may be able to proceed on a No Win – No Fee basis.
Not nessecarily by ownership, but sometimes financial advisers gave advice on batches of high-risk investments within SIPPs.
We’ve seen Cool Blue in the same SIPP as the Marbella Resort & Spa PLC bond and Venture Oils in the past, although this is no guarantee that the SIPP was mis-sold.
In most cases, the investments we deal with at Get Claims Advice are not regulated by the FCA, and therefore not subject to many of the rules that make a claim possible. It’s the same with a lot of the cold-calling marketing companies that often introduce people to these investments.
That being said, regulated entities such as a financial adviser or SIPP provider may be subject to FCA’s rules, and a claim may be brought against them if it can be shown that the broke these rules.