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Wealth Warning for Pension Holders in and Around Dundee

Wealth Warning for Pension Holders in and Around Dundee

Unfortunately, Beat the Banks over the last 6 months have spoken to a number of pension holders in and around the Dundee area who have accepted pension transfer advice from Mike Connelly a Director at the Mortgage Finance Store, based in Dundee’s Technology Park. These victims are devastated to find out that Mike Connelly is …

Guinness Mahon Trust Corporation Limited

Troubled SIPP provider, Guinness Mahon Trust Corporation Limited (GMTC) was finally forced into administration on the 17th February 2020. The Financial Services Compensation Scheme (FSCS) have announced they are now accepting claims against the failed firm over failures to apply an adequate level of due diligence on several fronts, namely – accepting business from unregulated …

Were You A Customer Of Capital & Income Solutions?

Based in Leeds and established back in 2006, Capital & Income Solutions (C&I S) entered liquidation in January 2020. If you were a customer should you be worried? Self-professed pension transfer specialists, C&I S were prominent in and around London, the South East and also north of the border in Dundee. So what caused this …

Black Star Wealth Management Failed Promises

Based at Lower Queen Street, Sutton Coldfield, Black Star Wealth Management were finally announced as being in FSCS default in mid-January 2020. Incorporated in 2008 and placed into administration in September 2019, Black Star Wealth Management were guilty of transferring huge numbers of perfectly performing Personal and Defined Benefit (DB) pensions into firstly SIPPs or …

The German Property Group – Formerly Dolphin Capital

If you were persuaded to part with your hard-earned pension or cash and invest in the German Property Group – GPG (formerly known as Dolphin Capital) news from Ireland in December 2019 and an update from the company themselves on 28th January this year makes it crystal clear that this is yet another high risk, …

FCA Reveal More Shocking Figures on Defined Benefit Pension Transfers

The FCA have just revealed that they withdrew the defined benefit (DB) transfer permissions of 24 advice firms during 2019. These firms were found to have consistently provided poor advice. However, the numbers behind that figure are even more shocking and reveal the true extent of the problems that exist within this high-risk sector of …

The FCA Ramp up the Pressure on Faulty Workplace Pension Transfer Advice.

The FCA’s Debbie Gupta has yet again sent a strong and direct message to IFA’s involved in Defined Benefit (DB Schemes) pension transfers. Here are just some of the key points sent in an open letter to firms operating in this marketplace: “We expect you to start from the assumption that a pension transfer is …

Build your Wealth

Build your Wealth Limited in FSCS default Formerly based at 39 Mitchell Point, Ensign Way, Hamble, Hants SO31 4RF. Build Your Wealth Limited unfortunately failed to live up to their name and in January 2017 the firm was formally declared as being in FSCS default. Established in 2002 and with Glyn Williams as an advising …

Defined Benefit Workplace Pensions Transfers – FCA to up the Ante on Poor Advice

It’s now emerged that the FCA plan to write to 1,841 financial advisers regarding advice given to transfer away from Defined Benefit workplace pensions (DB Schemes). This accounts for a little over 75% of the near 2,500 firms that provided this highly specialist advice between April 2015 and September 2018. Since pension “freedom” was introduced …

Did You Invest And Lose Money With Store Pods?

News announced in December 2019, held little in the way of festive cheer for pension holders previously persuaded to place their safe and secure funds into store pods with Store First via SIPPs through failed SIPP providers such as Berkeley Burke and Lifetime SIPP. It seems that the official receiver has now been “successful” in …

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