As of the end of May 2019, Crescent Financial stopped performing any regulated financial activities.
It was reported to be the case that the company was advising workers who were members of the British Steel Pension Scheme (BSPS) with respect to making defined benefit / occupational transfers.
Pension Transfer Claims
After the company ceased with its activities, its client bank was purchased from a company called Portfolio Financial Consultancy. The structure of this company was recently questioned after it became clear that a number of complaints were made in respect top its subsidiary. If it was the case that this subsidiary became insolvent, the company would stay intact. The subsidiary company was AW Dallas and was used for the purpose of performing pension transfers due to it having permission to do this.
Have Your Transaction Reviewed
If you are someone who had dealings with Crescent Financial (also trading as S&M Hughes Ltd) you should immediately review each and every transaction with the company and if you find anything you aren’t happy with, get in contact with us to talk through what options are available to you. It may turn out the be the case that you were mis sold a pension investment. Are team of experts will quickly be able to determine if this is the case.
We won’t cold call you and we don’t buy customer data from the very companies that mis sold you in the first place, meaning they don’t profit from you again.
Compensation Claim
It is important to be aware that you don’t necessarily need to use a claims management company in order to make a direct complaint to Crescent Financial. And if your claim is unsuccessful, you can take it to the Financial Ombudsman Service (FOS) free of charge. If it so happens that the company is no longer in business, then you can complain directly to the Financial Services Compensation Scheme – again this is free to do.
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Some of our clients did not know that they have taken bad advice or that an adviser was at fault until they spoke to us.
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