Douglas Baillie LTD was an independent financial advisory firm incorporated as a private limited company on 14 July 1998. While they were registered at 56 Palmerston Place in Edinburgh, the company was based in Perth. DB mis-sold SIPP pension products to clients across the UK. The company is currently in liquidation but did you deal with this company? If so, you may be entitled to mis-sold SIPP compensation currently offered by the Financial Services Compensation Scheme (FSCS).
Douglas Baillie Ltd, along with its sister company The Pension Specialist, breached Financial Conduct Authority (FCA) rules. Specifically, they did not recommend suitable pension schemes for their clients. This included not assessing their attitudes towards risk or their experience with financial products, which means they did not do their due diligence.
During their operations, Douglas Baillie arranged for more than 9,000 pension transfers into SIPPs. They mis-sold SIPP pensions to thousands of clients, many of whom are eligible for mis-sold SIPP compensation from the Financial Services Compensation Scheme (FSCS). They recommended that clients invest in a variety of different unregulated overseas investments, including Harlequin, StoreFirst, and Green Oil Plantations.
Are you entitled to mis-sold SIPP compensation from Douglas Baillie?
Did you invest any of your pension funds with Douglas Baillie? Douglas Baillie 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 Douglas Baillie 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 Douglas Baillie LTD Claim
Douglas Baillie LTD 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 Douglas Baillie LTD. Fill in our online application form to get started.
You do not need to use a claims management firm to make your claim and if your complaint is not successful you can refer it to the Financial Ombudsman Service or in the case of a failed firm, the Financial Services Compensation Scheme, for free.Apply Now
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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
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