The Better Retirement Group

The Better Retirement Group

Did you receive pension transfer or investment advice from Better Retirement Group Ltd? If you did there is a substantial chance that you have been mis-advised and could have suffered substantial losses that may have a significant effect on your retirement plans.

On 7 September 2002 the Financial Services Compensation Scheme (FSCS) announced that Better Retirement Group Ltd (BRG) was under investigation, an announcement that was hardly surprising given the circumstances.

The firm is yet another known to have mis-advised members of the British Steel Pension Scheme to transfer their highly valuable workplace pensions somewhere else. In some cases it wasn’t just transferred to a simple personal pension but rather to a SIPP and then to a DFM with the now collapsed SVS Securities, a firm renowned for its excessive fees and for investing well in excess of its clients’ attitude to risk and investment experience. The advice BRG gave was often through another of their trading names – Fiducia Prosperity. They also took in defined pension transfer referrals from the now collapsed IFA firm – Fiducia Wealth Solutions. A firm also known for its links to SVS securities.

BRG also worked closely with the SIPP Club over a number of years. They were renowned for their “advice” surrounding a number of unregulated collective investment schemes such as The Resort Group. Indeed, BRG even held the trading names – “SIPPCLUB” and “SIPP Club.”

It was a firm already very much under the eye of the UK’s financial regulator (The FCA). So much so that on 14 October 2020 the FCA issued the business with an Asset Restriction order forbidding it to dispose of, deal or diminish the value of any of its assets or to dispose, transfer or sell in whole or on part any of its client base without the prior written consent of the FCA.

Whilst in May 2022, in conjunction with the FCA, they were required to cease all regulated activities with immediate effect. It’s hardly surprising that Better Retirement Group went into Creditors Voluntary Liquidation on 2 September 2022. Little wonder given the huge volume of upheld Financial Ombudsman (FOS) complaints against the firm in 2022 alone.

If you took pension transfer or investment advice from the Better Retirement Group then we are here to help. To start your free initial assessment call 01382 200474 or complete our on-line enquiry form and we will be in touch as soon as possible.

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