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Rowanmoor Pensions claims now being accepted by FSCS
On 31st August 2022, Rowanmoor Personal Pensions (“Rowanmoor”) entered into administration and were placed under investigation by the Financial Services Compensation Scheme (FSCS). What did Rowanmoor do wrong? A lot of Rowanmoor’s customers transferred their existing pensions into a SIPP administered by Rowanmoor following a cold call offering advice from independent financial advisors. The…
The Pensions Regulator (TPR) launches new scam-fighting strategy
The Pensions Regulator (TPR) has launched a new scam-fighting strategy in relation to concerns over the rising cost-of-living. The increasing cost-of-living may result in more vulnerable people becoming victims of fake promises at the hands of pension scammers. TPR said that this decision is made primarily, although not solely, in relation to seven kinds…
Compensation limits – Will the FSCS increase them for pensions in line with the Financial Ombudsman Services increase?
If you have been provided with negligent financial advice, you can make a complaint to the Financial Ombudsman Service (FOS) or to the Financial Services Compensation Scheme (FSCS) for compensation. This is to try and recover any losses that you have suffered and to put you back in the position you would have been…
Nationwide Benefit Consultants Ltd T/A The Pensions Reporter under investigation
Nationwide Benefit Consultants Ltd T/A The Pensions Reporter is under investigation by the FCA, FSCS and the Financial Ombudsman Service in relation to pension transfer advice. Who are Nationwide Benefit Consultants? The Pension Reporter was a trading name of Nationwide Benefit Consultants (“NBCL”) who were appointed representatives of Joseph Oliver Mediaçao de Seguros Lda…
Due to the cap in compensation payouts allowed by the FSCS, it is estimated that investors lost 1 billion pounds over the course of the last six years. More than fifty percent of these losses were made by savers looking into pension advice claims, according to this source. Due to this, the lifeboat scheme…
12 firms listed as in default by the FSCS – February 2022
The FSCS (Financial Services Compensation Scheme) has announced the 12 latest firms to be announced as in default and out of business. One of the 12 making the list is Midland Independent Financial Services (formerly known as The Mortgage Shop), which the FSCS believes to be incapable of meeting claims in-house. Clients owed money…
Beaufort Securities (Formerly Hoodless Brennan) – Have You Lost Money?
Have you lost money with Beaufort Securities? Solicitors firm with over 15 years’ experience in financial mis-selling claims No win, no fee No upfront costs We charge only 30% + VAR for a successful claim £5 million recovered for clients in the last 12 months Free initial consultation The experts in Financial Litigation claims…
In January 2020 it published its Plan and Budget for 2020/21. This outlined initial forecasts for the levy financial services firms/Advisors will pay next year, as well as a supplementary levy due to be raised on firms before the end of 2019/20. Advisers face an increase in their Financial Services Compensation Scheme (FSCS) bills as…
The Financial Services Compensation Scheme (FSCS) has declared 15 new advisory firms in default during February 2020. A company/firm is declared in default when it is no longer able to financially bear to pay compensations for claims against it. The firms are: Hector McLean Financial Consultants J Associates Knight Finance (European) Limited…
A common sight outside eateries and often publicised on social media (if they’re terrible), the Food Standards Agency (FSA) holds a lot of sway with its rankings of food establishments based on quality and cleanliness. With this system in mind, the Parliamentary Review published an article that suggested such a ranking system exist for…
