Are you a former client of BlueInfinitas Limited?
The scandal of mis-sold pension investments rumbles on with BlueInfinitas Limited which, although in liquidation since 2015, continues to generate claims for compensation due to bad pension advice given out prior to its closure.
Banned by the FCA for dubious practices
The Weston Super Mare based financial advice firm – which sometimes traded as Dominic James Barry – was banned by the Financial Conduct Authority (FCA) from providing regulated financial products and services in 2015 due to dubious practices, including encouraging high-risk investments through Self-Invested Personal Pensions (SIPPs).
Following this, the firm was declared in default by the Financial Services Compensation Scheme (FSCS) and to date has generated in excess of 400 claims, with 52 of those claims having resulted in over £1.1m in compensation from the FSCS alone.
The Financial Ombudsman Service (FOS) has also upheld two complaints against the BlueInfinitas, made in 2015 and 2016, relating to pension transfers into SIPPs. In both cases, the claimants were wrongly advised to transfer their pensions into SIPPs, and then invest in various unregulated, high-risk property funds.
If you were persuaded by BlueInfinitas or Dominic James Barry to transfer your pension into a SIPP that lost money, the team at Beat the Banks would like to speak with you. We’ve been mounting and winning compensation cases for years and are ready to give you honest, reliable advice about your next steps. Call us on 0800 193 1234 to find out how we can help you.