Good to know: You do not need to use a claims management company to make your complaint to your pension provider or intermediary. If your complaint is not successful you can refer it to the Financial Ombudsman Service or the Pension Ombudsman yourself for free if the firm is still trading. For eligible failed firms, you can refer a claim to the Financial Services Compensation Scheme for free.
Andy understands financial services regulations and the technical arguments required to make a successful claim.
In his career he has successfully dealt with an array of claims such as pension transfers and switches, SIPP and endowment claims.
Andy was part of the “Pension Review” and Customer Liaison Departments for Royal Sun Alliance. Unhappy with how consumers were being treated, he realigned himself and has been representing consumers since 2004, ensuring fair and equitable treatment for consumers.
Contact AndyPeople love investing in ‘feel-good’ opportunities. Since everyone loves to take a holiday, Freedom Bay St Lucia seemed like the perfect investment. Hundreds of people across the UK mis-sold SIPP transfers, convinced to invest in Freedom Bay St Lucia.
Freedom Bay seemed like a wonderful investment opportunity. In return for investment into the property, clients would be entitled to at least one or two weeks in an apartment or luxury villa at St Lucia’s Freedom Bay resort. Investors dreamed of sun, sand, and crystal blue Caribbean waters.
They were sold on the idea of the elite spa, state-of-the-art gym, tennis courts, and extensive beach facilities. The resort was even planning an Andrew Strauss cricket academy on-site! Freedom Bay St Lucia offered an investment scheme similar to a time-share plan. The one-bedroom villas were priced at £660,000, two-bedroom villas at £975,000, and four-bedroom villas just over £1 million.
However, investors did not have to purchase the property outright. Freedom Bay St Lucia allowed investors to purchase shares of the villas – at £17,500, clients could buy one 52nd of the villa. This allowed them to stay for a week each year for a dreamy holiday, or they could trade their week in St Lucia for another in a different destination. Or, they could instead earn money from the villa by allowing the hotel to rent the villa.
So far, a typical time-share arrangement – with one added bonus. Investors were promised 6% returns, even while the resort was under construction. Sounds great, right?
One problem – the Freedom Bay St Lucia resort was never built. Investors asked for refunds when it became clear that they had been mis-sold SIPP pension transfers.
Did you lose your savings to Freedom Bay St Lucia? You could get some of your money back.
Did your financial advisor suggest that you transfer your pension from a stable, established fund to a SIPP without making you aware of the risks? Did they recommend that you invest in Freedom Bay St Lucia without telling you that it was unregulated by the FCA and high-risk?
You might be entitled to mis-sold SIPP compensation; you simply need to apply. Our claims experts are here to look over your case – they can help you determine if you were mis-sold SIPP pension products.
Apply online today for an information pack to learn more.
If a financial advisor advised you to invest in an unregulated investment such as Freedom Bay St Lucia, it is still possible to claim compensation. Where the advisor is still operating, a claim can be pursued against the financial advisor via the Financial Ombudsman Service (FOS).
If an advisor is no longer operating, the Financial Services Compensation Scheme (FSCS) pays compensation for valid mis-selling claims against any financial advisor who has been declared in default by them.
If your pension included investment in Freedom Bay St Lucia, you could be entitled to compensation.
Apply NowIn 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:-
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 ReadYou 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 ReadThe 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.
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.
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.
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: helpdesk@allegiant-finance.co.uk; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uk/legal/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.
Our fees compare favourably to competitors. We actively encourage you to shop around.
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.
Good to know: You do not need to use a claims management company to make your complaint to your pension provider or intermediary. If your complaint is not successful you can refer it to the Financial Ombudsman Service or the Pension Ombudsman yourself for free if the firm is still trading. For eligible failed firms, you can refer a claim to the Financial Services Compensation Scheme for free.
