PWH FINANCIAL PLANNING LTD
Whilst also trading as Pella Associates, GW Financial Planning Services, PWH Resolve Ltd, PWH Financial Planning Limited (FRN) 448019 advertised to individuals that through proper financial management it would ensure their future wealth.
The advice that their clients should transfer away from their occupational pension would most definitely not been in their best interest. This is because these financial products are often referred to as golf plated pensions.
The firm is no longer authorised to provide regulated activities and products.
Additionally, PWH Financial Services Limited operated as an Appointed Representative, carrying out certain activities on behalf of its principal firm.
Individuals associated with PWH Financial Planning Ltd include:
-
Karen Elizabeth Tomkinson, who was connected to PWH Financial Planning Ltd among other firms.
-
Bryan Johnston, who held controlled functions at PWH Financial Planning Ltd and other firms.
Pension Transfers
Anyone who has been given the advice to transfer funds from their occupational pension into a qualified registered overseas scheme (QROPS), a personal pension, a small self-administered scheme (SSAS), or a self-invested personal pension (SIPP) might be able to claim for compensation. Despite thinking that you were aware of the various implications of performing a pension transfer, it was likely to be the case that doing so was not the best option for you. It is also likely to be the case that you weren’t fully aware of all of the risks involved.
For instance, private pensions are at the mercy of various market risks, where the value can either go up or down. This means that when it comes to retire and you attempt to draw off funds, it can quickly run out. This is what makes defined contribution (DC) or defined benefit (DB) different. They pay out all the way up until death, regardless of the age of the individual. There only exists a very small number of circumstances where it is suitable to transfer away from this type of pension.
Final Salary Pensions
When looking at the transfer of British Steel final salary pensions, the regulatory body found it to be the case that there were many flaws. This promoted the body to ask workers to put in complaints even they were not aware of any problems and even if their pension has grown.
This applies to any British Steel workers even if the company did not recommend a pension transfer but still acted as a facilitator for it; the company stated a transfer was suitable for the purpose of releasing a lump sum of tax free cash for the purpose of repaying a debt; the company stated that members of your family would be better off from the transfer when you die; the value of your new pension has increased and there is no sign of a loss.
Complaints
Lots of former clients have made complaints about the financial advice that they received. Even if you are someone who is happy with the outcome of transferring their pension, you are still entitled to make a compensation claim. However, you need to act quickly as there is likely to be time restrictions in place. If you don’t do this, you could be left with much less money for your retirement than you were hoping.
For example, if a client is a member of several pension schemes and transfers £70,000 out of it in 2009, the loss of benefit buy 2019 would be £317,000. Another example shows that by transferring £43,000 out of an armed forces pension scheme in 2011, an individual would experience a loss of £158,000 by 2020.
Even if your pension pot has grown with your current plan, you could still be able to apply for compensation in the form of money redress. And even if the company rejects your case, then you could still be given as much as £160,000 by the Financial Ombudsman Service (FOS) if they find that the advice you were given was not suitable. If it is the case that the company is no longer in business, then the Financial Services Compensation Scheme may still award you as much as £85,000 in compensation.
Get Advice Quick
For some people, the process of making a claim for compensation may seem rather worrying. This is why you should get in contact with us today for an informal and no obligation discussion to go through the options that are available to you. Doing this is completely free of charge.
You should know that if you do decide to use our service, that our fees are very reasonable when compared with other solicitors – this is because we don’t in from third parties and nor do we run call centres. You only pay the fees if your claim is successful and you are happy with the service we provided.
Company background (public record)
The company was incorporated at Companies House on 10 March 2009 under company number 06842404. Its status at Companies House is recorded as dissolved.
Registered office: Victoria House 14a Bradford Road, White Cross Guiseley, Leeds, West Yorkshire, LS20 8NH.
Previously named: HWP FINANCIAL PLANNING LIMITED.
Nature of business (SIC): 66220.
Company timeline (public record)
Key dated events for this firm, drawn from public records. Each entry shows its source.
| Date | Event | Source |
|---|---|---|
| 10 Mar 2009 | Company incorporated | Companies House |
| 10 Mar 2009 | Jonathon Charles Round appointed director | Companies House |
| 17 Mar 2009 | Company renamed (previously HWP FINANCIAL PLANNING LIMITED) | Companies House |
| 17 Mar 2009 | Philip Hirst appointed director | Companies House |
| 17 Mar 2009 | Russell James Peaker appointed director | Companies House |
| 17 Mar 2009 | Jonathan Darnton Wade appointed director | Companies House |
| 17 Mar 2009 | Jonathon Charles Round resigned as director | Companies House |
| 04 Jan 2010 | Russell James Peaker approved by the FCA at the firm | FCA Register |
| 04 Jan 2010 | Jonathan Darnton Wade approved by the FCA at the firm | FCA Register |
| 04 Jan 2010 | Philip John Hirst approved by the FCA at the firm | FCA Register |
| 31 Mar 2010 | Michael Conoby approved by the FCA at the firm | FCA Register |
| 28 May 2010 | Glyn Peter Wickham approved by the FCA at the firm | FCA Register |
| 22 Nov 2011 | Christina Smith appointed secretary | Companies House |
| 11 Nov 2013 | Karen Elizabeth Tomkinson approved by the FCA at the firm | FCA Register |
| 18 Nov 2013 | Bryan Johnston approved by the FCA at the firm | FCA Register |
| 14 Feb 2014 | Lynda S Worsley approved by the FCA at the firm | FCA Register |
| 03 Dec 2014 | Darren T Briggs approved by the FCA at the firm | FCA Register |
| 24 Mar 2015 | Scott Palmer approved by the FCA at the firm | FCA Register |
| 31 Mar 2015 | Emma Louise Peaker appointed secretary | Companies House |
| 31 Mar 2015 | Christina Smith resigned as secretary | Companies House |
| 22 Jun 2015 | PWH Resolve Limited appointed as appointed representative | FCA Register |
| 23 May 2017 | PWH Resolve Limited ceased as appointed representative | FCA Register |
| 27 Nov 2020 | FCA status recorded as: No longer authorised | FCA Register |
| 20 Apr 2021 | Company dissolved | Companies House |
| 13 Dec 2021 | Declared in default by the FSCS | FSCS |
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.
- Russell James Peaker. Listed on the FCA Register as having held CF30 Customer (04/01/2010 to 08/12/2019), CF1 Director (04/01/2010 to 08/12/2019), SMF3 Executive Director (09/12/2019 to 27/11/2020) at the firm.
- Jonathan Darnton Wade. Listed on the FCA Register as having held CF30 Customer (04/01/2010 to 08/12/2019), CF1 Director (04/01/2010 to 08/12/2019), SMF3 Executive Director (09/12/2019 to 27/11/2020) at the firm.
- Bryan Johnston. Listed on the FCA Register as having held CF30 Customer (18/11/2013 to 08/12/2019) at the firm.
- Philip John Hirst. Listed on the FCA Register as having held CF30 Customer (04/01/2010 to 08/12/2019), CF11 Money Laundering Reporting (04/01/2010 to 08/12/2019), CF10 Compliance Oversight (04/01/2010 to 08/12/2019), CF1 Director (04/01/2010 to 08/12/2019) at the firm.
- Darren T Briggs. Listed on the FCA Register as having held CF30 Customer (03/12/2014 to 08/12/2019) at the firm.
- Scott Palmer. Listed on the FCA Register as having held CF30 Customer (24/03/2015 to 02/02/2018) at the firm.
- Glyn Peter Wickham. Listed on the FCA Register as having held CF30 Customer (28/05/2010 to 21/12/2012) at the firm.
- Karen Elizabeth Tomkinson. Listed on the FCA Register as having held CF30 Customer (11/11/2013 to 31/07/2018) at the firm.
- Lynda S Worsley. Listed on the FCA Register as having held CF30 Customer (14/02/2014 to 08/12/2019) at the firm.
- Michael Conoby. Listed on the FCA Register as having held CF30 Customer (31/03/2010 to 21/12/2012) at the firm.
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 |
|---|---|---|---|
| PWH Resolve Limited | FRN 707386 | 22/06/2015 | 23/05/2017 |
Review page sources: FCA Register (FRN 506351) · Companies House (06842404) · FSCS. Public records, provided for transparency.
