The Philpott Reed Partnership LLP
The Philpott Reed Partnership LLP were a financial advisory firm based in Harefield House, Racecourse View in Ayr. Established by David Philpott in 2006, the firm was directly authorised by the FCA and sometimes also traded under the name My Money Monster.
A winding up notice was served on the business in September 2016 before the company was declared as being in default by the Financial Services Compensation Scheme (FSCS) in March 2018. There have been a number of successful claims upheld against Philpott Reed for transferring personal and occupational defined benefit pensions into Self-Invested Personal Pensions (SIPPs) and then into a host of illiquid single asset Unregulated Collective Investment Schemes (UCIS). Those schemes subsequently failed, leaving former clients of the Philpott Reed Partnership staring at huge losses and financial uncertain retirements.
To add insult to injury, these clients had been charged expensive advice fees by David Philpott, who had failed to disclose the enormous commissions he was generating for his company from SIPP providers and from the sale of the unregulated asset schemes.
If you are a former client of Philpott Reed Partnership and suspect you may have been the victim of faulty pension advice Beat the Banks is here to help you. Our team of experts can establish if you have grounds to make a claim and support you through the claims process. Take the first step to recovering your money and call us on 0800 193 1234 for a free, no-obligation chat with one of our advisors.