Precise Advice Partnership LLP
Glasgow-based financial advisory firm Precise Advice Partnership LLP fell foul of the Financial Conduct Authority (FCA) for their widespread mis-selling of pension investments. In April 2016 the FCA banned the firm from providing regulated financial services and products. Precise Advice Partnership was subsequently declared in default by the Financial Services Compensation Scheme (FSCS) at the end of 2016.
Unregulated introducers and misleading advice
Under the leadership of directors Daniel O’Rourke and Mark Alexander Robertson, Precise Advice Partnership accepted clients from unregulated introducers who had been led to believe their final salary or defined benefit pension schemes were under-performing.
These individuals were promised a better deal by transferring their pensions into Self-Invested Personal Pensions (SIPPs) and investing funds into Unregulated Collective Investment Schemes (UCIS) – most notably Store First’s disastrous storage pod investment scheme. Unfortunately this advice was misleading and many ended up losing the majority, if not all, of their pensions funds to failed high-risk investment schemes.
Numerous claims made against Precise Advice Partnership have been upheld by the FSCS concerning mis-sold pension investments. If you were a client of the firm and lost money as a result of poor investment advice you too could be entitled to compensation.
Our team of claims experts at Beat the Banks are very experienced in successfully resolving compensation cases of all kinds and will do everything they can to help you recover your money. Call us on 0800 193 1234 for a free, no-obligation chat to find out what we can do for you.