Omega Financial Solutions Ltd

Mendelsons Solicitors are accepting claims from clients who have suffered losses as result of poor advice given by Omega Financial Solutions Ltd.

Omega Financial Solutions Ltd is an independent financial advisory firm that became in default on 8 July 2019. It was one of a number of financial adviser companies associated with recommending occupational pension scheme transfers from British Steel Pension Scheme (BSPS) to Personal Pension Plans, or a Self-Invested Personal Pension (SIPPs) where the real values of the pensions shrunk almost immediately after the transfers were made. Omega exploited the uncertainty that surrounded Tata Steels decision to sell its UK business in 2016, by advising its British Steelworkers to swap their defined benefit pension into risky investments and SIPP products, losing valuable accrued benefits when they did.

Nearly all of Omega’s clients have suffered losses because they transferred out of their defined benefits or final salary pensions into a defined contribution pension. Whilst some of Omegas clients were with British Steel there were other customers, with final salary pensions working in other industries and occupations as well, who transferred out of their  final salary pensions and have similarly lost money.

By transferring to a private pension arrangement, the pension owner would have lost the benefits already built up in their Occupational Pension Scheme. It was simply unrealistic to achieve the same level of benefits from their new plan. The advice, those Omega clients’ received, could not have been the best advice for them and those that have now suffered losses as a result, can now make a claim against Omega.

We currently act for a number of clients who have suffered financial losses as a result of Omegas poor business dealings and we are happy to look into your claim on a No Win No Fee basis.

If you have suffered a loss involving Omega Financial Solutions Ltd, please contact us for a no obligation conversation and we will explain further on how we can help you recover your 

Contact to Claim

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