ST MARTINS PARTNERS LLP
St Martin’s Partners LLP was one of a number of firms involved in pension arrangements that raised concerns, particularly in connection with high risk overseas investments and the transfer of final salary pensions.
The firm worked closely with First Pension Review Service, an unregulated introducer that was featured in a 2016 episode of BBC’s Panorama, along with a related company, Lifestyle Connection.
These companies offered free pension reviews and arranged for couriers to visit clients at home. During these visits, they collected pension details, identification documents and basic personal information. Individuals were then presented with sales material promoting pension transfers into SIPPs or Qualified Recognised Overseas Pension Schemes (QROPS), often linked to investment in The Resort Group, a hotel development project based in Cape Verde.
The Resort Group (TRG), which owned both First Pension Review Service and Lifestyle Connection, ceased using them as introducers shortly after the Panorama broadcast. However, a new company, Pension Connect, was soon formed with the same directors and staff.
You may have been introduced to St Martin’s Partners LLP, or a related company such as Felicitas Management Investment Services Limited, as part of this process. Felicitas was registered in Cyprus and only held temporary permissions on the FCA register. As it was not authorised to give pension advice, it relied on St Martin’s Partners LLP to arrange final salary pension transfers.
Many of these transfers were directed to Harbour Pensions Limited in Malta, which has since been acquired by STM Malta Pension Services Limited, part of the STM Group. Investments were then placed through Novia Global into TRG bonds, along with other discretionary fund management products.
If you dealt with any of these firms, you may have been exposed to unsuitable advice and high-risk investments. Even if your pension appears unaffected at first glance, we recommend reviewing the details carefully. We can help assess whether the advice you received was appropriate and calculate any losses you may have suffered.
