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?
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.
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.
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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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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• Compensation is £1,000, the fee is £250 plus VAT £50. This means the amount payable to us is £300 leaving you with the benefit of £700.
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