TAILORMADE GROUP
This firm was authorised by the Financial Conduct Authority (FCA) with FRN 506611. It provided advice on self-invested personal pensions (SIPPs) and was involved in recommending unregulated investments. The firm ceased operations and was dissolved on 9 July 2016. The former directors of the financial advisory company TailorMade Independent Limited (Peter Legerton, Lloyd Pope and Robert Shaw) have been suspended from their positions and have been given significant fines by the Financial Conduct Authority (FCA).
The authority found that they had failed to fully assess the suitability of investments for clients that were made via self-invested personal pensions (SIPPs). They also failed to make sure that the company both managed and identified any conflicts of interest.
The company actively exposed its clients to investments that were high risk without thinking about if it would meet their needs. Additionally, Mr Legerton, Mr Pope and Mr Shaw all benefitted personally through selling financial products without making their clients aware of the benefits they’d receive. As a result, many of their clients were faced with losing the funds from their pension.
It was found by the FCA that the directors were also shareholders in the unregulated introducer company, TailorMade Alternative Investments, and that they were benefitting financially from this situation – especially as it was referring clients to TailorMade Independent Limited. Because of this, it created a real conflict of interest and this information should have been disclosed to their clients (it wasn’t). The company was also sometimes referred to as TailorMade Financial Services and TailorMade Overseas.
This issue was made worse by the fact that the directors didn’t act when the external compliance consultants issued a warning to TailorMade Independent Limited that the company needed to think about and make clear its conflicts of interest to its clients.
TailorMade Independent Limited advised its clients to transfer the funds from their pension into investments that are unregulated, like farmland, green oil, overseas property, and biofuels via SIPPs. Between the years of 2010 to 2013, there were more than 1,600 clients that put around £112,420,000 into these investments. Many of these weren’t permitted through their existing pension scheme. Greater than half of their clients put money into the Harlequin group, which themselves are being investigated by the Serious Fraud Office.
If a company from the TailorMade Group gave you advice about your pension, then you should have your transaction(s) reviewed and then contact us if you are not happy with what you find and how your investment is performing.
Company background (public record)
The company was incorporated at Companies House on 25 June 2009 under company number 06944874. Its status at Companies House is recorded as dissolved.
Registered office: Rivermead House 7 Lewis Court, Grove Park, Enderby, Leicestershire, LE19 1SD.
Previously named: THE TAILORMADE SIPP LIMITED.
Nature of business (SIC): 64999.
Company timeline (public record)
Key dated events for this firm, drawn from public records. Each entry shows its source.
| Date | Event | Source |
|---|---|---|
| 25 Jun 2009 | Company incorporated | Companies House |
| 25 Jun 2009 | Alistair Rae Burns appointed director | Companies House |
| 25 Jun 2009 | Peter Charles Legerton appointed director | Companies House |
| 25 Jun 2009 | Robert Ian Shaw appointed director | Companies House |
| 25 Jun 2009 | Barbara Kahan appointed director | Companies House |
| 25 Jun 2009 | Barbara Kahan resigned as director | Companies House |
| 25 Jun 2009 | Lloyd Arnold Pope appointed director | Companies House |
| 22 Jan 2010 | Peter Charles Legerton approved by the FCA at the firm | FCA Register |
| 22 Jan 2010 | Robert Ian Shaw approved by the FCA at the firm | FCA Register |
| 22 Jan 2010 | Alistair Rae Burns approved by the FCA at the firm | FCA Register |
| 22 Jan 2010 | Lloyd Arnold Pope approved by the FCA at the firm | FCA Register |
| 12 Mar 2012 | Paul Elliott approved by the FCA at the firm | FCA Register |
| 12 Mar 2012 | Rodney James Morton approved by the FCA at the firm | FCA Register |
| 07 Sep 2012 | Company renamed (previously THE TAILORMADE SIPP LIMITED) | Companies House |
| 23 Oct 2012 | TailorMade Independent South Limited appointed as appointed representative | FCA Register |
| 12 Nov 2012 | Mary Natalie Hannah Calderbank approved by the FCA at the firm | FCA Register |
| 02 Apr 2013 | Lloyd Arnold Pope resigned as director | Companies House |
| 13 Jun 2013 | Cera Lynne Taylor approved by the FCA at the firm | FCA Register |
| 03 Sep 2013 | TailorMade Independent South Limited ceased as appointed representative | FCA Register |
| 15 Oct 2013 | Company wound up (creditors’ voluntary liquidation) | Companies House |
| 15 Oct 2013 | Insolvency practitioner appointed: Paul Finnity | Companies House |
| 15 Oct 2013 | Insolvency practitioner appointed: Dilip K Dattani | Companies House |
| 22 Jul 2014 | Declared in default by the FSCS | FSCS |
| 30 Mar 2015 | Insolvency practitioner appointed: Patrick B Ellward | Companies House |
| 09 Jul 2016 | Company dissolved (creditors’ voluntary liquidation) | Companies House |
| 09 Jul 2016 | FCA status recorded as: No longer authorised | FCA Register |
Who was involved?
The following individuals are listed on public records in connection with the firm. These are matters of public record only and their inclusion does not imply any wrongdoing by any named person.
- Paul Elliott. Listed on the FCA Register as having held CF30 Customer (12/03/2012 to 06/09/2013) at the firm.
- Rodney James Morton. Listed on the FCA Register as having held CF30 Customer (12/03/2012 to 06/09/2013) at the firm.
- Mary Natalie Hannah Calderbank. Listed on the FCA Register as having held CF30 Customer (12/11/2012 to 17/09/2013) at the firm.
- Cera Lynne Taylor. Listed on the FCA Register as having held CF30 Customer (13/06/2013 to 17/09/2013) at the firm.
- Peter Charles Legerton. Listed on the FCA Register as having held CF1 Director (AR) (21/11/2012 to 17/07/2013), Responsible for Insurance Mediation (08/01/2013 to 20/03/2015), CF11 Money Laundering Reporting (04/08/2011 to 20/03/2015), CF10 Compliance Oversight (04/08/2011 to 20/03/2015) at the firm.
- Robert Ian Shaw. Listed on the FCA Register as having held CF1 Director (22/01/2010 to 13/08/2015), CF1 Director (AR) (28/12/2012 to 17/07/2013) at the firm.
- Alistair Rae Burns. Listed on the FCA Register as having held CF1 Director (AR) (03/12/2012 to 17/07/2013), CF3 Chief Executive (11/04/2013 to 29/11/2016), CF1 Director (22/01/2010 to 29/11/2016) at the firm.
- Lloyd Arnold Pope. Listed on the FCA Register as having held CF11 Money Laundering Reporting (22/01/2010 to 06/08/2011), CF10 Compliance Oversight (22/01/2010 to 06/08/2011), CF30 Customer (22/01/2010 to 08/04/2013), CF1 Director (AR) (21/11/2012 to 08/04/2013) at the firm.
- Barbara Kahan. Listed at Companies House as director (appointed 2009-06-25, resigned 2009-06-25).
Appointed Representatives and Agents
While it was authorised, the firm acted as principal for the following appointed representatives. An appointed representative carries on regulated business under the responsibility of its principal, so their conduct can be relevant to a claim.
| Appointed representative | Reference | Effective from | Ended |
|---|---|---|---|
| TailorMade Independent South Limited | FRN 590074 | 23/10/2012 | 03/09/2013 |
Review page sources: FCA Register (FRN 506611) · Companies House (06944874) · FSCS. Public records, provided for transparency.
