From Pension Review to Cape Verde...
Consumer Money Matters | Administration
Many people who received a cold-call from Consumer Money Matters Limited, an unregulated marketing company, were later introduced to Independent Financial Advisers like CIB Life and Pensions, and ended up transferring their pension into a SIPP - a Self-Invested Personal Pension, with high-risk and non-FCA regulated investments like The Resort Group in Cape Verde.
That might sound fine, but only if those people were high net-worth individuals (earning over £100k or with £250k in assets) or Sophisticated Investors with plenty of investment experience - the criteria for being recommended a Resort Group SIPP investment due to its risky nature.
For the last few years, Get Claims Advice has been taking on mis-sold SIPP cases where the client was introduced to an unsuitable pension arragement by Consumer Money Matters, and although they were not a regulated company we can take to task, there is often a way forward to a claim for clients who have lost money through negligent financial advice.
Want To Have Your Pension Advice Checked for FREE?
Our claims assessors can help you discover if YOUR Consumer Money Matters pension was mis-sold to you
We've recovered £millions from mis-sold SIPPs over the last few years, including from mis-sold Resort Group investments from a range of advisers, all on a NO WIN - NO FEE* basis.
That doesn't mean you HAVE to come onboard with us for a claim - our initial assessments come with no obligations, just a big friendly hello!
Success fee charged at 24% Inclusive of VAT
The Role of Consumer Money Matters Limited
The role of what are termed 'unregulated introducers' in the growing pension mis-selling scandal is becoming more and more apparent, and not just through the work of Get Claims Advice either! In fact, the act of 'pension cold-calling' is was recently debated in Parliament, and as things stand, the act of calling people 'out-of-the-blue' about their pensions may soon be outlawed (2019 is the current reported estimate).
Financial advice about pensions, at its core, is about unbiased suitability - doing the right thing for the individual so they take on just the right amount of risk for them. By adding a 'sales' element where, some companies get caught up in the potential profits from promoting high-risk investments, which often pay big commision. This has sometimes meant that the wrong people end up taking on the risk of investments like The Resort Group as well as many other non-standard assets, leading to lost retirement funds.
Consumer Money Matters is no longer trading, having entered into Administration back in October 2015, but their legacy still stands as many people find themselves in the pension schemes discussed by their team.
It's our job at Get Claims Advice to try to help rectify the effect of any negligent financial advice people received regarding their pensions, and it all starts with a FREE and NO OBLIGATION initial assessment of your pension advice...
*No Win - No Fee: Your claim is pursued by Get Claims Advice on your behalf with no up-front fees. In the event of a successful claim, our success fee is charged at 24% inclusive of VAT, of any monies awarded. 14 Day “cooling-off” period, after which a cancellation fee is applicable. See Terms of Business for full details.