Mendelsons solicitors specialise in acting for clients who have been mis-sold pension investments and lost all their money. Most of the clients we act for have been cold called and persuaded to move their pension from a safe investment into a high risk venture without the risks properly being explained.
Their pension money is moved into a SIPP which is a Self Invested Personal Pension and then ‘invested’ into a product that fails, making the investment worthless. The mis-selling arises because the investor was given unsuitable advice, the risks were not explained and the product was not right for the investor.
In recent years many investors have transferred their pension funds into unsuitable SIPPs or a Qualified Recognised Overseas Pension Scheme (‘QROPS’) and into high risk unregulated funds.
Most of those funds were invested into high-risk, complex and illiquid investments that were totally inappropriate and unsuitable resulting in the investment failing and being rendered worthless.
We can investigate whether your SIPP or QROPS was mis-sold and if so we can act on your behalf in making a claim for compensation.
For the mis-selling to have taken place you would have moved your pension fund into a SIPP or QROPS and a regulated business such as an IFA (Independent Financial Adviser) or SIPP company would have been involved in the process.
Fortunately they are regulated by the FCA (Financial Conduct Authority) which obliges them to have professional indemnity insurance which will pay out in the event that the claim is successfully made.
Whilst many of the companies that sold SIPPs are no longer trading it is still possible to make a claim for compensation via the Financial Services Compensation Scheme up to a maximum limit of £50,000.
TYPES OF PENSION MIS-SELLING
Yes, if you were given advice to invest in an unregulated investment which promised substantial returns. To establish the mis-selling element consider whether any of the following scenarios apply to you
You sold an investment without having properly been advised as to the risks.
Your personal circumstances or attitude to risk were not properly considered
You were advised to invest all or most of your pension savings into a single investment
You are advised to transfer the pension when it was not necessary
You were sold in esoteric, high risk investment
You now understand that your investment has significantly reduced in value or is worthless.
If any of the above do apply then you have been mis-sold an investment. Typical types of investments are set out below and we are currently acting for a large number of clients in prosecuting their claims.
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WHY CHOOSE MENDELSONS?
Many people have painstakingly saved up for their pension so they will have what to live off in their twilight years. Recently it has come to light that many pension schemes and financial advisers have mis-sold pension investments whether due to negligence or otherwise. If you have been mis-sold an investment or pension,
call Steven Mendelson today, on 0161 241 1661 email us at firstname.lastname@example.org or complete our online enquiry form and we will call
you. We will then discuss your case with you and explain the next steps for you to take.