Month: April 2019

Blackmore Bond – yet another failed investment?

Blackmore Bond – yet another reason why only regulated advisers should be used for investment advice. The clear link between the recently-failed LCF Bond and Blackmore Bond through Surge Group remind us how important regulated investment advisers are. In the news again is the troubled Blackmore Group. This time we read that they have ‘temporarily’ …

Blackmore Bond – yet another failed investment? Read More »

Transferring pensions to scammers – the ABC of shame

HOW DO PENSION SCAMS WORK? Every pension scam starts with a negligent transfer.  Ceding providers hand over millions of pounds to pension scammers every year.  Firms – from Aviva to Zurich – ignore warnings by regulators and HMRC.  The providers tick their boxes; the scammers make their millions; the victims are ruined. The ceding providers …

Transferring pensions to scammers – the ABC of shame Read More »

Pension Life blog - Lack of knowledge leads to loss of funds - rogue advisers

Lack of knowledge leads to loss of funds – rogue advisers

The Pension Scams Industry Group (PSIG) has carried out a pilot survey on pension scams. The survey has identified seven key findings and concluded that most scams are carried out by rogue advisers and unregulated “introducers”. This is something we write about regularly, so it is great that PSIG has finally caught up. Henry Tapper …

Lack of knowledge leads to loss of funds – rogue advisers Read More »

Store First v Insolvency Service Battle – the Insolvency Service’s Witness Statement

In the run up to the High Court proceedings to hear the Insolvency Service’s petition to wind up Store First, here is some background.  This is an abridged version of the Insolvency Service’s witness statement regarding the Store First pension investment scam.  It involved two bogus occupational pension schemes set up and administered by Stephen …

Store First v Insolvency Service Battle – the Insolvency Service’s Witness Statement Read More »

Raising standards – financial advisers and qualifications

I read an interesting article recently which has prompted this blog, written by Blair duQuesnay, CFA®, CFP® – an investment adviser at Ritholtz Wealth Management, LLC. Blair suggests that the most important change needed in the financial industry is qualifications. Poorly qualified advisers give poor investment advice. Bad investments advice leads to loss of funds. Blair has …

Raising standards – financial advisers and qualifications Read More »

Who killed the pension? Scammers; ceding providers; introducers; HMRC?

In every pension scam there is one beginning, lots of middles, and always a wretched ending for the victim and a profitable ending for the scammers. The beginning is always a negligent, lazy, box-ticking transfer by a ceding provider – the worst of which always tend to be the likes of Standard Life, Prudential, Scottish …

Who killed the pension? Scammers; ceding providers; introducers; HMRC? Read More »

Scroll to Top