A happy tale for the end of the week… not just one but two firms have been told they must compensate clients for poor advice on SIPPS transfers. A great victory against all firms using SIPPS to disguise their ill-advised pension scams sorry schemes. Financial Planning today reported that: The Financial Ombudsman Service has ruled […]
Victory for SIPPS Pension Scam Victims Read More »
Fast Pensions, run by Peter and Sara Moat, is finally to be wound up. There will be a hearing at the High Court in Manchester on 30th May 2018. The winding-up petition also includes the 15 pension schemes run by the Moats, FP Scheme Trustees and four loan companies. This follows a special measure by
FAST PENSIONS TO DIE A SLOW DEATH Read More »
I am saddened to write about the first (but probably not the last) British Steelworker who has fallen victim to an investment scam as well as a pension scam. The British Steelworker was persuaded to transfer his DB pension AND invest £35,000 of his personal saving into an unregulated fund – Dolphin Trust (in Germany). More
British Steelworker – SIPPS Pension Scam Victim Read More »
Pension Life is pleased to report that the FCA has woken up long enough to do a spot of regulating and has won an important case over the promotion of unregulated investment schemes. The firm flogging the schemes, Capital Alternatives, must pay back nearly £17m to investors. The FCA alleged that Capital Alternatives used “false,
A win for the FCA against Capital Alternatives Read More »
A fine journalist at International Investment reports that Old Mutual International is taking legal action against Leonteq. She reports that this action is being taken on the basis that Leonteq lied about commissions paid to advisers for using high-risk structured notes. This news is, of course, very welcome news – especially if it succeeds in securing
OMI SUES LEONTEQ over undisclosed commissions Read More »
EVERGREEN RETIREMENT TRUST QROPS SCAM – HOW DID IT ALL WORK? Victims were cold called by Continental Wealth Management (CWM) and duped into transferring their UK pensions into the Evergreen New Zealand QROPS on the promise that they could access 50% of their pension. CWM acted as the “sister” company to Stephen Ward’s Premier Pension
EVERGREEN RETIREMENT TRUST QROPS SCAM Read More »
In the wake of hundreds of victims fearing heavy pension losses in the Blackmore Global fund, we now have another disaster waiting to happen: Blackmore Bond. This new threat to unwary investors has been analysed by Bond Review. Just to be clear, many people were duped into investing their pensions in the Blackmore Global UCIS
BLACKMORE BOND – SHAKEN OR STIRRED – CARELESS OR STUPID? Read More »
EVERGREEN – HARD-TO-SWALLOW, EVER-GRIM QROPS Why hard to swallow? Around 300 victims of this pension liberation scam are anxiously waiting to see whether they can ever get any of their fund out – and whether there is anything left of the original £10 million. A few victims have got out successfully over the past few
EVERGREEN – HARD-TO-SWALLOW, EVER-GRIM QROPS SCAM Read More »
QROPS provider STM Group’s Alan Kentish, is delighted to deliver reports of record profits for 2017. I wonder how delighted the victims of his previous scam, the Trafalgar Multi Asset Fund, are to hear this. I think we’d be more delighted to hear that Kentish planned to pay all the victims of this investment fraud (currently
Alan Kentish of STM Groups delivers news of record profits for 2017 Read More »
Here at Pension Life, we are well aware of QROPS and SIPPs providers being a favorite of the serial pension scammers and are very pleased to report that there is positive news of better protection against this, on the horizon. Three years ago the Pension Liberation Industry Group (PLIG) launched a code of practice to
Better Protection Against QROPS Pension Scams from PLIG Read More »
COMPLAINTS AGAINST ROGUE FIRMS: It is no secret that the FCA is embarrassingly hopeless. But now it is time to put the other professional bodies to the test: the ICAEW and the SRA. IFAs aren’t the only firms which screw up – accountants and solicitors can be just as bad. I am now putting in
COMPLAINTS AGAINST ROGUE FIRMS – “Lies ahead” Read More »
DEMAND FOR LEONTEQ’S SWISS DERIVATIVES AWARDS TO BE WITHDRAWN [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected] (Interesting use of the phrase “pay off” in the awards organisers’ email address above – I wonder who got paid off to make this disgusting award.) DEMAND FOR LEONTEQ’S SWISS DERIVATIVES AWARDS TO BE WITHDRAWN On behalf of hundreds of victims of the Continental Wealth
DEMAND FOR LEONTEQ’S AWARDS TO BE WITHDRAWN BY SWISS DERIVATIVES AWARDS Read More »
