Did you take pension transfer advice from Portal Financial Services LLP (formerly known as Portafina LLP)?
Did Portal Financial Services LLP, formerly known as Portafina LLP advise you to move your final salary workplace pension or to transfer any type of pension into a SIPP with Novia or Montpellier?
If they did, you may have been yet another victim of their often shocking pension transfer advice. Believed to have been responsible for thousands of pension transfers, they are one of the UK’s most complained about financial advisers with more than 85 Financial Ombudsman (FOS) decisions upheld against their faulty pension and investment advice.
On 18 June 2021 they applied to the UK’s financial regulator to cancel their regulatory permissions and on 8 March they were hit with a notice of strike off by the Registrars of Companies.
They heavily recommended Self Invested Personal Pensions (SIPPs) with the likes of Novia and Montpellier. A type of pension holding arrangement generally only suited to experienced investors with certainly more than £100,000 to invest, who are happy to take investment risks, have a capacity to suffer losses AND are prepared to pay higher charges to run their pension.
Once invested in SIPPs they then recommend a number of Unregulated Collective Investment Schemes (UCIS) to pension holders. Many of these are in financial difficulties or have failed such as –
Portal Financial Services LLP formerly Portafina LLP has connections to a claims management company called Hayward Marsh LLP who have also applied to cancel their FCA permissions.
Pension holders cold-called by Hayward Marsh LLP or contacted via post or email should immediately report the matter to the FCA on – 0800 111 6768
If Portal Financial Services LLP, formerly Portafina LLP advised you to transfer your final salary workplace pension elsewhere, or to transfer any type of pension into a SIPP, Beat the Banks will check for free the advice you were given. If we think you have a valid claim, we will give you all the options for claiming valuable compensation. To find out more, please give our team a call on – 01382 200474.