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Henderson Carter Associates

Did Henderson Carter Associates give you pension advice?

Merseyside-based pension advice firm Henderson Carter Associates Limited was declared in default by the Financial Services Compensation Scheme (FSCS) in March 2017. To date, the FSCS has paid out on more than 100 complaints against the firm with regards to faulty pension advice, with more currently under consideration. 

If you were a client of Henderson Carter between 2013 and 2015, it’s possible you too were the victim of poor pension advice and could also be entitled to compensation.

FCA’s concern with business relationships

Prior to being declared in default, Henderson Carter had gone into administration in early 2016 following a ban on conducting pension business from the Financial Conduct Authority (FCA). 

The FCA had grown concerned with Henderson Carter Associates relationship with several unregulated third party introducers, namely Holistic Wealth Management, Hennessy Jones Limited and City Administration Limited

Between December 2013 and February 2016, the firm had been accepting clients from these introducers who had wrongly been led to believe their pension plans were performing badly and that their future financial security was at risk.

Placed in this vulnerable position, these clients were understandably worried and seeking to transfer their pensions into Self-Invested Personal Pensions (SIPPs) in order to invest in Unregulated Collective Investment Schemes (UCIS). These schemes were sold as low-risk, high-return opportunities with a far better yield than what they were currently achieving.

In the case of Henderson Carter, such schemes included the now collapsed Carbon Credits and the stricken AIGO fund – both hugely high risk and unsuited to the majority of their clients’ needs. 

When investigating their activities, the FCA concluded that Henderson Carter had “breached Principle 1 (Integrity) of the FCA’s Principles for Businesses by acting dishonestly and recklessly in relation to its pension business.”

Are you entitled to compensation too?

If this scenario sounds familiar to you, you may be entitled to compensation. Perhaps you were persuaded to transfer your pension into a SIPP and invest in one of the schemes mentioned above. Or maybe you were wrongly led to believe that your workplace pension was not performing well.

It can feel humiliating to realise you have been the victim of a scam, but our team at Beat the Banks are experienced in dealing with sensitive cases like this. We handle all enquiries in the strictest confidence and will do everything we can to help.

Call us on 0800 193 1234 for a chat with one of our advisers and take the first step towards seeking the justice you deserve. 

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