Unsuitable Pension Transfer Advice
The regulator considers the four advisors were responsible for a pension transfer advice model that put people’s retirement benefits at risk
In less than 12 months the advisors put 547 customers at significant risk of transferring out of guaranteed defined benefit pensions into investments which were unlikely to be suitable for them, including investments in hotel developments in Cape Verde offered by The Resort Group Plc.
Many of those customers were brought to St Martin’s Partners LLP by unregulated introducer firms such as First Review Pension Services Ltd (FRPS), a subsidiary of The Resort Group.
In the FCA’s view, there were clear indications of the link between First Review Pension Services Ltd and The Resort Group.
The firm’s advice model failed to take into account the information required to assess the suitability of a pension transfer or how the benefits of the customer’s existing scheme compared to the new investment.
The company failed to ensure that due diligence was carried out on either First Review Pension Services Ltd or at least 16 other introducer firms involved in the process.
The regulatory body found that there was a reckless disregard for customers’ financial situation and their retirement needs.
If you had dealings with the firm or its advisors you may wish to get those transactions reviewed.
Call Us Now For A No-Obligation Chat
If you had dealings with the company you should act now and get those transactions reviewed, especially if the asset statements you have received do not match your original investment values!
We offer a free assessment of your situation to find out if you may be owed money redress. We will inform you of other options available to you. Don’t delay, because there are time limits to claim your compensation. The best time to act is now!
Contact us for an informal discussion to explore your options. You’ll also get a better understanding of how we work before deciding on your best course of action.
Impartial Claims Advice
Why don’t you let us review the transactions made – and if we can’t help you won’t pay a fee.
Please remember that it’s always important to get impartial advice: no doubt you will receive cold calls from companies which have made deals with the firms involved. Instead you may wish to speak to one of our Financial Claims Consultants.
You might find that we can help where others couldn’t – and we’ve got the customer feedback to prove it!
You should also get in touch with us if you have any concerns about the advice you received or the way your investments are performing.
Most clients don’t understand that they may have suffered losses, as their annual statements show that the pension fund is still valued at purchase price.
We have been fighting your corner for years – and may just know a trick or two, helping you to finally obtain compensation!
Financial Claims Made Simple
ACL Consultancy Ltd have been in operation as a claims management company (CMC) for over 10 years and have offered the lowest flat fee service in the industry since 2017.
We are able to work for a reasonable fee because we don’t buy your data from the companies involved in your claim. We pass these cost savings on to you. Our success is your gain.
Our team possess a deep knowledge of pension and investment compensation and welcome your call to find what solutions are available to you.
So, you’ve nothing to lose and everything to gain by calling us today.