Greyfriars’ Portfolio Six seemed like an irresistible investment opportunity. It featured a number of high-profile (and high-risk) ventures, some of which had been covered by the media. Some of these investments included The Resort Group, Lanner Car Parks, and The Olmstead Series. The Resort Group was featured in a BBC Panorama documentary, so investors were excited to get involved.
However, all was not as it seemed. Greyfriars marketed this unregulated fund to SIPP advisors, who then mis-sold SIPP pension products to their clients. By 2016, the Financial Conduct Authority requested that they cease accepting new money.
Greyfriars Asset Management was a limited liability partnership registered at 25 Moorgate in London, EC2R 6AY. In addition to providing SIPPs, they were authorized to provide financial advice. Greyfriars also offered Discretionary Fund Management (DFM) services. The company was registered on 14 May 2003, and is now in liquidation.
Greyfriars’ investment portfolio management business is no longer in operation, and they cannot pay out any returns on your investment. However, you might be eligible for mis-sold SIPP compensation from the Financial Services Compensation Scheme (FSCS). Read more to find out.
Greyfriars’ Portfolio Six generated a lot of buzzes, but couldn’t live up to the hype. Since 2018, the FSCS has handled more than 314 claims against the wealth manager, and they have already paid out more than £108,000 in mis-sold SIPP compensation. If you have ever dealt with Greyfriars Asset Management and/or you invested in Portfolio Six, you need to check if you qualify for mis-sold SIPP compensation.
Have you ever dealt with Greyfriars? Did Greyfriars Asset Management, a discretionary fund manager or advisor suggest that you transfer your pension from a stable scheme into a SIPP that included Greyfriars Portfolio Six? Did they make you aware that Greyfriars Portfolio Six was a high-risk, unregulated fund only suitable for High Wealth Individuals with more than £250K in assets?
If you think you were mis-sold SIPP products, you may be eligible for mis-sold SIPP compensation from the FSCS or Financial Ombudsman Service (FOS). Our claims team are experts at assessing mis-sold SIPP pension cases, and they are on hand to look at your case. You don’t have to go through the application process on your own – our advisors can help.
Apply online today for an information pack to learn more.
FSCS Greyfriars Asset Management Claim
Greyfriars Asset Management 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 Greyfriars Asset Management. Fill in our online application form to get started.
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
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