GERARD ASSOCIATES
Gerard Associates Limited, a Bristol-based financial advisory firm (Company Number: 05873997), became involved in high-risk, unregulated investments after receiving client introductions from First Review Pension Services Limited. This led to clients transferring their occupational pensions into unsuitable investment schemes. Following regulatory scrutiny, Gerard Associates entered liquidation.
Unregulated and High-Risk Investments
Gerard Associates and the unregulated introducer, First Review Pension Services Limited (Company Number: 08103789), have been linked to investments in several high-risk, unregulated schemes, including:
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Colonial Capital Limited (Company Number: 06363798)
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Best Asset Management Ltd (Company Number: 07355680)
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Dolphin Capital Investors UK Limited
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London Quantum Retirement Benefit Scheme
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The Resort Group
Many clients were persuaded to transfer their occupational pensions into Qualifying Recognised Overseas Pension Schemes (QROPS). These transfers were often administered by Integrated-Capabilities (Malta) Ltd, which issued pension statements. However, many clients were unaware that their funds were invested in illiquid assets with a high risk of total loss.
In most instances, investments were arranged by Strategic Wealth Ltd, a firm licensed by the Gibraltar Financial Services Commission. However, the Optimus Retirement Benefit Scheme has since confirmed that Strategic Wealth Ltd is no longer trading.
Concerns Around Occupational Pension Transfers
Clients advised to transfer safeguarded occupational pensions—such as those from the NHS, Royal Mail, or Teachers’ Pension Schemes—into Self-Invested Personal Pensions (SIPPs) may have received unsuitable advice.
Under Financial Conduct Authority (FCA) rules, firms must begin with the presumption that a transfer out of a defined benefit scheme is unsuitable. Advice to transfer should only be given if it can be clearly demonstrated to be in the client’s best interest, considering long-term security and retirement outcomes.
Why You Should Have Your Case Reviewed
Even if your annual pension statement does not yet show a loss, it is essential to have your pension transfer and investment advice reviewed. Time limits apply to financial claims, and inaction could lead to being barred from seeking redress.
If it is found that Gerard Associates or associated parties failed to follow FCA rules and provided unsuitable advice, you may be entitled to compensation.
