Store First’s storage pod investment scheme
We’ve come across many sad stories linked to unregulated pension investments and misleading pension advice in recent years. Unfortunately, Store First’s storage pod investment scheme is yet another example of this, with a number of people losing significant sums of money from a scheme that sounded too good to be true.
Huge returns that were never realised
Store First offered a seemingly attractive scheme to potential investors, promising impressive returns on their investment over a period of years. Those returns, it was claimed, would increase year on year and eventually bring in a whopping 85% profit after just six years. No wonder so many people were tempted to invest, particularly when they were advised to do so by brokers earning huge commissions.
Store First’s ambitious scheme centred around the establishment of a network of self-storage facilities across the UK. The plan was to set up in 20 locations initially, with many more to follow, but in reality only a few were built. Those who had invested their hard-earned savings were left out of pocket and feeling as though they had nowhere to turn.
Many investors were in their last few working years and were keen to make the most of their pension pots so it’s easy to see why they were tempted. They were hoping to enjoy a more comfortable retirement and the chance to leave a greater sum behind for the benefit of their families. Sadly, many were left with very little.
The plot thickens
Amid the fallout, there were reports of members of the public being cold-called by slick salespeople promising guaranteed returns for their money. Some brokers are thought to have earned up to 55% in commission, so naturally they pushed hard for people to invest in their apparently attractive scheme.
There were a number of firms and individuals involved in Store First and a UK-wide pension scam. If you have had dealings with any of the following, the team at Beat the Banks would like to hear from you:
Far too many innocent pension holders have lost money at the hands of Store First and we believe unregulated pension advice should not go unpunished.
The people we help aren’t billionaires looking to enhance their already considerable wealth, they are ordinary people who have worked hard all their lives. They simply believed the claims made by these so-called experts, who they trusted to have their best interests at heart.
Call us on 0800 193 1234 for an honest, no-nonsense assessment of your claim and how we can help you.