Did you move your savings from a stable pension scheme into an unregulated, high-risk SIPP that included investments in Gravity Child Care?
Advisors across the UK advised their unwitting clients to invest in Gravity Childcare, despite the fact that it was a high-risk fund unregulated by the Financial Conduct Authority (FCA). Gravity planned to build more than fifty homes for children with mental and physical problems, profiting from local councils’ fees.
Nicola Jayne Fairweather set up the fund in 2010 and went door to door to interest potential investors. The homes were advertised as an ‘exciting residential care service for children,’ and offered returns of between 11% and 21% each year.
More than 230 people invested their savings into Gravity when they were promised annual returns of 15%. Around £11 million was sunk in Gravity, but instead of growing and generating profit, the fund collapsed. After statements were delayed in 2015, administrators found that only two properties had been built, worth only £600,000. Shockingly, only ten children were being cared for in the homes.
A group of 27 investors recently sued their advisor, Liberty SIPP, for suggesting investments in Gravity Child Care. They were mis-sold SIPP pension products and were awarded compensation from the Financial Services Compensation Scheme.
While Fairweather and Gravity Child Care have repaid 30 investors, many others are still waiting for their money to be repaid. Are you one of these people?
Were you advised to take your pension money from a safe and secure pension scheme and invest it instead into unregulated funds, such as Gravity Child Care? If so, you might have been mis-sold SIPP pension products. If your financial advisor invested your money into this risky SIPP, we can help you get the compensation. Our claims experts are here to help assess your case. #
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If a financial advisor advised you to invest in an unregulated investment such as Gravity Child Care, 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 Gravity Child Care, you could be entitled to compensation.Apply Now
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:-
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
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.
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: firstname.lastname@example.org; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uk/legal/cancellation.
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