Estate Matters Financial Limited (EMFL or “Pension Matters) was an independent financial advisory firm that was one of the companies associated with the British Steel Pension Scheme scandal. EMFL exploited the uncertainty that surrounded Tata’s Steel decision to sell its UK business in 2016, by advising many British Steel workers to swap their defined benefit pension into SIPP products losing valuable accrued benefits when they did.
EMFL accounts has been in liquidation since 29th May 2020 and the company has stopped taking on new customers.
The company was a private company that was incorporated on 06th August 2007 and traded under the name Pension Matters. It had 2 officers, Paul Steel, director and Jacqueline Joanne Foster, secretary. EMFL traded from several addresses during their time in existence including 124 Church Road, Low Fell, Gateshead, Tyne and Wear, NE9 5XD from (2009), 10 Saltwell Gardens, Low Fell, South Shields, Tyne and Wear, NE9 5EG (2018) and 79 Caroline Street, Birmingham, B3 1UP (2021).
Were you mis-sold SIPP pension funds by EFML? If so, you could be entitled to mis-sold SIPP compensation.
The Financial Conduct Authority has asked the Court to make a restitution order against Estate Matters Financial Limited.
According to the Financial Conduct Authority Estate Matters Financial Ltd contravened the Financial Services and Markets Act 2000 by providing unsuitable defined benefit pension transfer advice, leading consumers to exit defined benefit pension schemes when it was not in their best interests to do so.
The FCA further alleges that Mr Steel and his co founder Ms Foster breached FCA requirements by undertaking a course of conduct that resulted in the removal of the firm’s assets, leaving it unable to meet potential liabilities for unsuitable advice, while enabling them to retain the significant profits that accrued from the provision of the advice and from ongoing fees.
Have you lost out on safe guarded benefits by moving from a defined benefit pension into SIPP products? Were you mis sold Sipp products by Estate Matters Financial Limited trading as Pension Matters? The company is no longer trading and is unable to meet claims against it.
However, you may still be able to recoup your lost funds via mis-sold SIPP compensation made available by the FSCS. Our claims experts can help you apply for the compensation you are owed.
Financial Services Compensation Scheme (FSCS) the UK’s compensation scheme for failed financial service firms will pay compensation for valid mis-selling claims against any advisor who has been declared in default by them. Allegiant can assist you with claims to the FSCS about Estate Matters Financial Ltd trading as Pension Matters. Fill in our online application form to get started.
We can also assist you with an advisor of financial firm that are still in business.
Our claims experts are here to help. They can determine if you were mis-sold SIPP products, and if you qualify for compensation. Apply online today for an information pack to learn more.Apply Now
In this article, Allegiant’s Pensions & Investments Manager, Andy Ramsay, explores the fundamental differences between the Court and Ombudsman routes for resolving pension & investment claims. The article highlights key differences in:-
Andy further explores outdated 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
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:-
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
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
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.
As of the 1st March 2022 we have implemented a new fee structure which we have explained below. If you signed your contract with us prior to the 1st March 2022, please refer to your signed claims pack for our previous fee terms.
Our fees are owed upon a successful claim and will depend on the Gross Compensation you receive. “Gross Compensation” means the amount awarded to you whether this is paid directly to you or paid into an investment or pension, and prior to any deduction of any income tax due to HMRC on your award. Please refer to the definition of “Gross Compensation” and Section 5 of our Terms of Engagement for further information including a table showing how our fees work in different scenarios.
If successful, your fee will be calculated based on which band your redress falls into and will be charged by whichever is the lowest of:
The below table outlines the redress bands, the maximum percentage rate of charge and the maximum total charge is for each band.
|Band||Redress||% Charge (with VAT)||Maximum charge (with VAT) (£)||Maximum charge (without VAT) |(£)|
|1||1 – 1499||36%||504||420|
|2||1,500 – 9,999||33.6%||3000||2500|
|3||10,000 – 24,999||30%||6000||5000|
|4||25,000 – 49,999||24%||9000||7500|
Examples of how this would work in practice:
|Band||Lower example||Higher example|
|1||You receive £100 in redress; our fee would be £36.||You receive £1499 in redress; our fee would be £504.|
|2||You receive £1,600 in redress; our fee would be £537.60.||You receive £9,999 in redress; our fee would be £3,000.|
|3||You receive £12,000 in redress; our fee would be £3,600.||You receive £24,999 in redress; our fee would be £6,000.|
|4||You receive £30,350 in redress; our fee would be £7,284.||You receive £49,999 in redress; our fee would be £9,000.|
|5||You receive £55,000 in redress; our fee would be £9,900.||You receive £100,000 in redress; our fee would be £12,000.|
Please note, the above fee examples are for illustration purposes only. They are not an estimate of the likely outcome or fee you will need to pay. Each claim depends on its own merits.
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
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 protected]; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uk/compliance/cancellation.
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.
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.