Foreman Financial Services, which also trades as Grainger Co Financial Services, mis-sold SIPP pension products to clients across the UK. Foreman Financial Services was registered as a Private Limited Company in Tunbridge Wells, Kent. The company was originally incorporated in October 2003, and formally dissolved on 31 July 2018.
Foreman Financial Services is no longer trading, and can therefore no longer pay out any returns. However, the Financial Services Compensation Scheme (FSCS) has made mis-sold SIPP compensation available for people who meet the funds’ eligibility criteria. Did you deal with Foreman Financial Services?
What did Foreman Financial Services do wrong?
The Foreman Financial Services case was rather notorious, receiving coverage in a number of financial blogs. In January 2018, the Financial Conduct Authority (FCA) canceled their permission to trade after Foreman Financial Services refused to pay an award mandated by the Financial Ombudsman Service (FOS).
The FOS complaint was made in regards to Foreman Financial Services recommending that one of its clients use their self-invested personal pension to buy a Harlequin property. The Harlequin Property Scheme was a luxury resort in the Caribbean that promised big returns. However, only 300 of the 6,000 planned properties were ever built. The complainant claimed that Foreman Financial Services advisors never warned them about the risk, nor did they determine if the investment was a suitable one.
Foreman Financial Services soon issued a statement on their website. “It is with great sadness that we would like to inform our past and present clients that Foreman Financial Services Ltd (trading as Grainger Co Financial Services) has permanently ceased trading. We would like to thank you for your business and wish you every success in the future.”
Their apology is obviously not enough. If you were mis-sold SIPP pension products, you deserve more and we can help you.
Are you entitled to mis-sold SIPP compensation from Foreman Financial Services?
Did you invest any of your pension funds with Foreman Financial Services? Foreman Financial Services is now officially dissolved, and they can no longer pay out any returns. However, the Financial Services Compensation Scheme has made £120 million available to help people like you. If a Foreman Financial Services advisor convinced you to put your pension money into their investments, only for that investment to fail, you might qualify for mis-sold SIPP compensation.
Our claims experts can advise on whether you could qualify for mis-sold SIPP compensation. Apply online today for an information pack to learn more.
FSCS Foreman Financial Services claims
Foreman Financial Services has been declared in default by the Financial Services Compensation Scheme. This means that the UK’s compensation scheme for failed financial services firms will pay compensation for valid mis-selling claims. Allegiant can assist you with claims to the FSCS about Foreman Financial Services. Fill in our online application form to get started.
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Insights from Our Pensions Team
Expert Insight: The Importance of Choosing the Right Pathway for Your Claim: CMCs and Law Firms Compared.
In this article, Allegiant’s Pensions & Investments Manager, Andy Ramsay, explores the fundamental differences between between the Court and Ombudsman routes for resolving pension & investment claims. The article highlights key differences in:-
- costs consequences and funding arrangements
- the differing basis of assessment that a Court will deploy when compared to an Ombudsman
- the potential need for claimants to attend a hearing in Court
Andy further explores out-dated preconceptions about Claims Management Companies. This short summary is essential reading for anyone planning on making a pension or investment claim with the assistance of a CMC or law firm.Click to Read
Learn With Allegiant: The Financial Services Compensation Scheme (FSCS) In A Nutshell
You may have heard of the Financial Services Compensation Scheme (FSCS), but do you fully understand its vital role within the UK’s financial services sector? In this short piece, we look at:-
- The type of claims FSCS covers (and those it doesn’t).
- How and when it can help
- The FSCS claims process
This article will be of particular interest to anyone with a potential compensation claim against a financial service provider that has collapsed.Click to Read
Learn With Allegiant: What is a SIPP?
The Financial Conduct Authority (FCA) has identified ‘serious and ongoing failings’ by both Individual Financial Advisers (IFAs) and Self-Invested Personal Pension Providers. Typically, mis-selling is related to the “wrong” type of investor being given poor or misleading advice as to what investments were relatively safe and right for them. In this summary, we look at What a SIPP is, and how they have been mis-sold, together with the FCA’s review into sector malpractice.Click to Read
Our Mis-sold Pensions Claim Procedure
Pre complaint investigation and analysis. No paperwork? Don't Worry! We could still help.
Once we've assessed claim prospects, we make a pension complaint to the Ombudsman or FSCS, where appropriate
Pension complaint response received. We'll carefully analyse the response and advise you on how to proceed.
If appropriate resolution cannot be reached with a live firm, and we disagree with their stance, we will refer the claim to Ombudsman on your instruction.
Why Pay More? How Our Fees Compare.
Allegiant always aligns great value with exceptional service. This winning formula has seen us emerge as one of the UK’s pre-eminent Claims Management Companies in recent years. See why Allegiant is a great choice below. *All information correct as at 28 August 2021.
Our Fees - What You Need To Know
Worked Fee Example
How our fees work in practice:
• Compensation is £1,000, the fee is £150 plus VAT £30. This means the amount payable to us is £180 leaving you with the benefit of £820.
• Compensation is £3,000, the fee is £450 plus VAT £90. This means the amount payable to us is £540 leaving you with the benefit of £2,460.
• Compensation is £10,000, the fee is £1,500 plus VAT £300. This means that the amount payable to us is £1,800 leaving you with the benefit of £8,200.
NB. It is possible that our fee may become payable before you have access to your pension or investment which may result in you having to pay our fee from your own funds.
Cancellation Rights (Pension Claims)
You can cancel for free at any time within 14-days without giving any reason and without incurring any liability. You can communicate your cancellation by telephone, post, email or online.
You can cancel this agreement at any time after the 14-day cancellation period. However, if a complaint submitted by us is successful, the Success Fee will apply in the usual way.
You can cancel by post: Allegiant Finance Services Limited, Freepost RTYU–XUTZ–YKJC, 400 Chadwick House, Warrington Road, Birchwood Park, Warrington, WA3 6AE; (b) by email: email@example.com; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uk/legal/cancellation.
Looking for Claim Representation? Why Allegiant is a Great Choice for Pension Claims Assistance
Our small, dedicated pensions team provide a personal touch
We’ll treat your claim as strictly confidential. Your personal information is safe with us.
We’ve serviced over 100,000 clients across all service lines since our inception in 2010.
Our fees compare favourably to competitors. We actively encourage you to shop around.
No Paperwork? Don't Worry!
We could still help if you don’t have all your paperwork or details. Our team are experienced in helping locate paperwork where possible.
Our online application system and claim audit surveys enable us to offer an efficient and convenient claims journey.