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The Ultimate Store First Related Claims Guide

Many people received negligent financial advice from financial advisers to invest in Store First Ltd’s storage units, often after receiving a cold call offering a free pension review.

The model at a glance, was to allow investment in empty storage units to be managed by Store First, and pay back returns to investors through their rental.

Store First is a high-risk investment, and should have only been offered to wealthy individuals and sophisticated investors, who could understand the risk and afford to take it.

Instead, Store First Ltd Investments were often sold to ordinary people, some of whom have not seen the returns they were told they would, and often struggled to sell their storage pods and get their money back.

At Get Claims Advice Ltd, our team of claims specialists have helped clients win back their pensions from mis-sold Store First SIPPs before, all with no upfront cost, and we offer a Free Initial Assessment with No Obligation to see if you can make a claim.

Please note: you have an initial cooling off period of 14 days, if you cancel outside of this period you may be charged for the work carried out and if we have already submitted your claim, which results in an offer of compensation subsequently being made, we will charge our full fee as per our T&Cs – our fee is 20% + VAT – a total of 24%. 

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Can you claim for Store First mis-selling compensation?

Several financial advisers and the FSCS have been paying out compensation for the mis-selling of Store First and other 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
  • Invested in Store First Limited or other 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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Get Claims Advice are a claims management company. 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.

Store First mis-selling and liquidation

Store First investments offered some very high and attractive returns when compared to some other, safer and FCA regulated investments, which made it easier for some pension review companies to make it sounds like a good place to invest.

But Store First is a high-risk investment, which means financial advisers should have been telling more people who don’t earn over £100k per year, and aren’t sophisticated investors that the investment was unlikely to be suitable for them.

Sadly for some, people were advised to channel tens of thousands of pounds into Store First investments, and it has resulted in many people having money locked up in Store First, and receive lower than expected returns.

Now, Store First Limited is in liquidation as of 30 April 2019 following a court order to wind up.

Store First Ltd timeline of events

2010 - Formation

Store First Limited formed back in 2010 in Lancs, but it would be a few years before marketing really got into the swing of things.

2012 - Cold Calls & Pension Reviews

By 2012, several unregulated marketing companies were making cold-calls to prospective investors, and offering Free Pension Reviews to try to get people investing through SIPPs. Not all of these companies are still operating, like Jackson Francis and CL&P Brokers.

2016 - Store First on Radio 4

Radio 4’s consumer money program You & Yours featured Store First, lending their voice to people who had invested and were unhappy. Listen here

2017 - Winding Up Orders

In 2017, Store First was served with a winding up order by the High Court, which was later adjourned. This is the latest we have on the situation, but you can follow Store First updates via our Facebook Page as and when there is news.

2019 - Liquidation

Store First Limited enters into insolvency proceedings from 30 April 2019.

We’ve made successful claims over mis-sold Store First investments before

Click the button below to see an example of a Get Claims Advice claim relating to a Store First investment

See example claim

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Store First Compensation FAQ's

Can I make a claim to Store First?

The main issue with Store First investments is now what the investment is or what has happened to it (it was always a high-risk investment), but how it was sold.

Negligence on the part of some financial advisers (and possibly some SIPP providers – yet to be decided by ongoing court cases) is usually to blame for the mis-selling of Store First through SIPPs.

Now, Store First Limited is in liquidation.

Who are Group First?

Group First is the parent company of Store First. They are also not regulated by the FCA.

What about the guaranteed buy back?

We are aware that some investments with Store First stated a buy-back clause. We are still waiting to hear if any investors ever managed to enforce this clause.

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