It was back in 2014 when Curtis Banks purchased the self-invested personal pension (SIPP) business from Pointon York.
Although Pointon York had many vanilla assets within its portfolio, some of its clients were given the advice to move their existing pension into one of their SIPPs. Clients pension funds were then put into none standard and risky investments like carbon credits, bamboo, and foreign property.
Mis-Selling Pensions
Although Henderson Carter Associates Ltd, Financial Page, and Bank House Investment Management Ltd all set up SIPPs through Pointon York’s portal, they all failed to provide their clients with pension advice that was suitable. These companies were guilty of accepting clients who had been cold called with the offer of free pension reviews. As a result, their pension were then transferred over to execution only transactions.
There has been a big increase in those types of transactions occurring recently. But don’t worry as people have been compensated for this as the independent financial advisors failed to act in a way that was in the best interest of their clients. If you are someone who had a SIPP with Pointon York and have been unsuccessful in recover your losses, then you should act now.
Know Your Options
For anyone who doesn’t know how to proceed with a compensation claim and has been told to wait and sit tight, it may be the case that you end up running out of time. However, by calling us you can quickly get clarification on whether or not you’re entitled to compensation.
It may also be the case that you’re entitled to compensation even if you’ve had some off of the Financial Services Compensation Scheme against the independent financial advisor, and the losses you experienced were in excess of £50,000.
