LEBC Group Limited – Have You Been Affected by Mis-Selling?
Are you concerned that you are a victim of pension mis-selling or financial advice by LEBC Group Limited? You’re not alone, we are here to help.
HT Legal trading as Claim My Loss can provide support to those individuals who experienced financial losses due to bad advice, particularly regarding defined benefit (DB) pension transfers and the mis-selling of unsuitable investments like The Resort Group.
LEBC Group Limited was entered into administration in August 2023, is currently under investigation by the Financial Services Compensation Scheme (FSCS) for over 200 potential claims. You may be eligible for compensation, and we’re here to guide you through the claim process.
How We Can Help
Our specialisms include finance mis-selling cases. With years of experience in helping people to recover what is rightfully theirs, we understand how frustrating and disappointing it can feel to be let down by a company you trusted. We provide a free, no obligation consultation to discuss your case. Plus, with our no-win-no-fee service, you will not have to pay one penny unless your claim is successful. Book a call today with us here
The Fall of LEBC Group Limited
LEBC Group Limited was a national advice firm that offered pensions, financial planning, and investment services. However, the company faced severe challenges due to poor advice regarding defined benefit (DB) pension transfers. Following a review by the FCA in 2019, LEBC surrender their permissions to stop advise on DB transfers. In many client cases, however, the decision came far too late: this created serious financial setbacks for many clients, some of whom were left with substantial losses after being advised to transfer their guaranteed pension benefits into much riskier investment schemes.
The firm, LEBC Group, entered administration in August 2023 and was sold to the sister company Aspira Corporate Solutions in a pre-packaged sale. The FCA has approved the sale, however many of the former clients of LEBC are left having to trying to recover their losses through financial compensation from the FSCS.
Current Situation
FSCS is currently reviewing more than 200 claimed cases against LEBC Group Limited. If you were a client of LEBC and feel that you received bad financial advised regarding your pension transfers or investments, you should be eligible to make a claim. However before making a claim it is important to understand what your specific grounds for claim are. As your legal representatives, we (HT Legal) will assist you in navigating through these complexities step by step.
Contact us today for a free consultation to discuss your potential claim. Call 0800 041 8358 or visit claimmyloss.co.uk.
LEBC Group Limited FAQs
What has happened to LEBC Group Limited?
LEBC Group Limited entered administration in August 2023 due to high liabilities it had on mis-sold defined benefit DB pension transfers. Its assets have already been sold to Aspira Corporate Solutions and FSCS is evaluating in excess of 200 claims made against LEBC for bad financial advice.
Can I still make a claim against LEBC Group Limited?
Yes, you can. FSCS is now accepting claims against LEBC and the recent mis-selling pension or investment advice would qualify you for possible compensation. You could start by working with our team to get the process initiated on filing a claim against LEBC.
What types of claims am I able to make against LEBC Group?
Some of the most common mis-sold claims include pension transfers, while defined benefit transfers have been the most popular. Others were sold unsuitable investments. If you feel you have lost money due to bad advice received from LEBC, we can assist in making a claim for compensation on your behalf.
How long do I have to make a claim?
Claims are time-sensitive; and therefore, there is some urgency with how one should act. If you feel you have been mis-sold financial products or services and want to make a claim, contact us and we’ll be happy to provide you with a free consultation about whether your claim is eligible before any limitation time bar applies.
How does the FSCS handle claims against LEBC?
The FSCS is considering claims for potential compensation of LEBC Group financial advice. The FSCS assesses claims on the merits of the advice provided and the loss incurred. Once your claim is determined to be successful, the FSCS can award you compensation up to a limit of £85,000.
More About LEBC Group Ltd
LEBC Group Limited was once a respected name in financial advice services across the UK, providing a range of services to clients on pensions, investments, and financial planning, established back in the year 2000. The company was majority-owned by private equity firm BP Marsh, and at its peak was being served by 120 employees, supporting 3,400 private clients.
Indeed, the companies troubles started when it was probed by FCA on defined benefit pension transfer advice. It resulted in a suspension of the company’s permissions in 2019. With rising claims, the companies liabilities increased, eventually ending in administration in 2023.
The intention of the pre-packaged sale of LEBC’s assets to Aspira Corporate Solutions was supposedly to save the company’s business and operations, although former clients will still need to turn to FSCS for redress if they have incurred financial loss. Their liabilities were shown at over £6 million, which should be more than enough to demonstrate that LEBC’s advice left many clients more impoverished than if they had not listened to it, specifically in pension transfers.
For clients who lost money due to mis-sold pensions or other financial products, seeking redress through the FSCS is the most viable option. Our team at HT Legal is here to provide expert guidance, ensuring that you don’t navigate the complex claims process alone.
Act now to avoid missing out on the compensation you deserve. Contact HT Legal today on 0800 041 8358 or visit claimmyloss.co.uk for a free consultation
