Beat the Banks is helping people across Dundee and Fife receive compensation for mis-sold pension advice. Here Mike Begg, director at Beat the Banks, explains more.
“In the last 15 years, were you advised to transfer your final salary pension somewhere else? Or were you advised to move any sort of pension into a Self-Invested Personal Pension (SIPP)? If so, you may have suffered considerable losses.
“Doing either is only suitable for a tiny percentage of pension holders who are experienced investors, who understand risk and have a capacity for loss.
“Moving pensions means taking advice from financial advisers. Rules put in place by the financial regulator (FCA) are there to protect pension holders and ensure that financial advisors treat customers fairly and always act in their clients’ best interests.
“Sadly at Beat the Banks we know that advisers can claim to be regulated when they are not, as in the case of a mortgage broker from Dundee.
“We’ve helped a number of his former clients recover substantial compensation and more come forward every week. Since 2015, mostly all were moved to Royal London.
“Then there are the cases that we deal with where advice firms have failed and then been placed into, what’s known as, Financial Services Compensation Scheme (FSCS) default.
“In other words their former customers have had successful claims against the Scheme for faulty pension or investment advice.
“In some cases millions have been paid out in compensation.
“Sadly this is very much the case with many former advice firms dotted over Courier country. By far the biggest being Perth based Douglas Baillie Limited and its appointed representative firm The Pension Specialist.
“Documents filed at Companies on 13 January 2021 confirmed that the FSCS had already settled 830 claims totalling more than £61.2 million against faulty advice given by the firm of Douglas Baillie Limited.”
“In Fife there are three notable firms that are also classed as being in FSCS default. Based in Dunfermline, claims against the Max Horne group by July 2019 had already reached £370,000 covering 60 claims.
“Then in Dundee there is H E Grant Limited which was dissolved as far back as 2010 and was described as failed by the FSCS in April 2017.”
If you’ve dealt with any of these firms, Beat the Banks is happy to check for free the advice you were given.
It couldn’t be simpler – just call 01382 200474 and Beat the Banks will do the rest. Alternatively, you can complete an online enquiry form here.
Disclaimer: Beat the Banks are authorised and regulated by the FCA – FRN 832771
You don’t have to use the services of a regulated claims management company, you can make a complaint yourself for free direct to the firm or the individual who you believe mis-sold the financial product.If your complaint is rejected, you may be able to refer the matter to the Financial Ombudsman Service free of charge. If your complaint relates to a firm or individual that is no longer authorised by the regulator and/or has ceased trading, you may be able to claim compensation for free from the Financial Services Compensation Scheme.