Avalon Investment Services Limited was declared in default by the Financial Services Compensation Scheme in January 2020. The FSCS investigation found that the firm had failed to carry out adequate due diligence before allowing pension clients to make certain investments through their SIPPs. If you held a pension with Avalon and your savings were placed into non-standard investments, you may be entitled to FSCS compensation.
Avalon Investment Services Limited (FRN 190602) was an FCA-regulated SIPP provider that allowed its clients to invest in a broad range of assets within their pension plans, including non-standard and alternative investments. The firm worked with a number of financial advisers and intermediaries who introduced clients to its SIPP products.
The firm entered special administration in February 2016 and was dissolved in August 2018. The FSCS began its investigation and by early 2020 had received 213 claims. Its conclusion was clear: Avalon had not carried out the level of due diligence required of a regulated pension provider before accepting certain investments into client pension plans. Where those investments subsequently failed or became illiquid, clients suffered losses they should not have had to bear.
Many Avalon clients had their pensions transferred into the firm’s SIPP structure on the recommendation of a financial adviser. In some cases, both the adviser who recommended the transfer and Avalon as the SIPP provider may bear responsibility for the resulting losses. If you were introduced to Avalon by an adviser and have not yet had that advice independently reviewed, there may be additional avenues for compensation beyond the FSCS route.
Losing retirement savings through no fault of your own is one of the most distressing financial experiences a person can go through. Pension money represents years or decades of work and careful saving. If your Avalon SIPP investments were unsuitable or poorly managed, you have every right to pursue what you are owed. Please speak to our team and let us carry out the work on your behalf.
Get Help With Your Claim
If you had dealings with Avalon Investment Services Limited and are worried about your money, please book a free consultation with our team. You may feel embarrassed about what has happened, but you should not. You were let down by people who had a professional and legal duty to act in your best interest. We will carry out all the investigative work on your behalf, at no cost to you. If your claim is not successful, you will not pay a penny. Call us during office hours or email hello@claimmyloss.co.uk – we are here for you.
