After coming back from bankruptcy in 2015, a former senior marketing manager was focused on rebuilding their financial future. Earning around £40,000 a year and with no real experience in pensions or investments, they relied on advice from a St. James’s Place (SJP) adviser, someone introduced via their employer.
They were persuaded to move their pensions from Aviva and Scottish Widows into an SJP Retirement Account, lured by promises of better returns and expert handling. But it turned out to be a costly mistake.
“It sounded convincing at the time,” they said. “But looking back, it was more of a sales pitch than real advice.”
They were never told about the downsides:
- Higher fees
- Reduced death benefits
- No clear benefit over their old pensions
- No encouragement to seek independent advice—despite their financial history
When health issues later forced them to reduce work, they turned to SJP for help. Instead of support, they got fear-based messaging and talk of penalties.
“It felt like scare tactics. I left the conversation feeling like a failure.”
The Turning Point? They Came to Claim My Loss.
That’s when things changed. We reviewed their case in detail, gathered the evidence, and built a strong complaint. We supported them every step of the way and took the fight to the Financial Ombudsman.
The result? £2,603.01 in compensation, including:
- £2,443.34 for losses from the Scottish Widows pension
- £9.67 for the Aviva pension
- £150 for stress and inconvenience
More importantly, they got justice.
“Claim My Loss had my back. Without them, I wouldn’t have known where to start—let alone had the strength to go up against a company like SJP.”
Jon Paton from Claim My Loss puts it simply:
“This is exactly why we do what we do. Mis-sold advice can devastate people who are trying to get back on their feet. We’re here to make sure they’re heard – and compensated.”
We’ve helped thousands challenge poor financial advice, with a 54% uphold rate – far above the industry average.
Think You Might Have Been Mis-Sold?
If your pension or financial product wasn’t right for you, let us take a look. We’ll assess your case with care, honesty, and no pressure.
Start your free claim assessment today at www.claimmyloss.co.uk
