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.

0345 544 1563

Integrity IFA Ltd is a financial advisory firm that was incorporated on 01 October 2007 and has now gone into liquidation. The firm has had 7 Ombudsman decisions made against it in favour of the consumer for selling high-risk unregulated investments to pension customers.

Its last accounts were made up to 31 July 2020, and the last confirmation statement was dated 01 October 2021.

The firm was regulated by the Financial Conduct Authority (FCA) and its predecessor, the Financial Services Authority, from 20 October 2010 and traded as Dewar and Partners, Scottish Landlords Insurance, and Wood and Ker.

The company’s registered address according to Companies House was 25 Morton Street, Edinburgh, Midlothian, EH15 2HN with a former address of Suite 9 Ground Floor, Stuart House, Eskmills Park Musselburgh Midlothian EH21. The Director of the company was Stephen William Davidson and there was also Darren Anthony Davidson who was the secretary who resigned on 22 July 2015.
An asset and regulated activities restriction was imposed on the company by the FCA on 04 November 2021 prohibiting them from carrying out any regulated activity and preventing them from disposing of any assets without the prior consent of the FCA.

Were you mis-sold pension products by Integrity IFA Ltd?

The company is classed as a failed firm since 27 April 2022, and you will not get a penny from them. However, the government has made compensation available for people like you. The Financial Services Compensation Scheme (FSCS) is accepting claims about Integrity IFA Ltd. Were you mis-sold SIPP or pension products by Integrity IFA Ltd? If so, you may qualify for mis-sold pension or SIPP compensation from the Financial Services Compensation Scheme (FSCS).

What did Integrity IFA Ltd do wrong?

Integrity IFA Ltd sold high-risk unregulated investments to the wrong type of customer using a SIPP as a funding vehicle.

A Self-Invested Personal Pension (SIPP) allows investors to choose the types of businesses, FTSE 100 companies and emerging markets they invest in. SIPPs offer more flexibility than most pensions which, when handled correctly, provide more choice in the pensions market.

However, the Financial Conduct Authority (FCA) has identified ‘serious and ongoing failings’ by both Individual Financial Advisers (IFAs) and SIPP providers. Typically, mis-selling is related to investors being given poor or misleading advice as to what investments were relatively safe and suitable for the needs of their clients. The mis-selling of SIPP investments has resulted in significantly reduced pension funds and the prospect of serious financial strain during retirement.

The Ombudsman ruled against Integrity in two separate complaints involving unregulated investments in SIPPs, after the firm failed to respond to both the consumer and the Ombudsman.

In one case Integrity IFA Ltd gave the advice to switch a private pension of £14,000 into a SIPP so that it could then be invested in a Colonial Capital Housing Bond.

£10,000 was then transferred to the Colonial investment.

In March 2017 Colonial went into administration. The liquidator’s report in 2019 said it was unlikely that any dividend would be paid to non-preferential unsecured creditors. This meant the customer had effectively lost their entire investment.

When the customer subsequently complained to the firm about their losses, Integrity IFA Ltd ignored them and the claim was referred to the Financial Ombudsman Service.

An Ombudsman concluded that unsuitable advice had been given by Integrity IFA Ltd and said that, they should compensate the customer for their losses.

In a further complaint, Integrity IFA Ltd had recommended the consumer switch their private pension of £57,409.39 to a SIPP which then invested £10,000 equally in unregulated Bonds with ABC Bond Ltd and Residential Regeneration Ltd. The remaining funds were invested in a general investment account and a managed portfolio and a residual amount was kept to pay for the SIPP fees.

An Ombudsman found in favour of the client on the basis that the customer’s SIPP was a more expensive arrangement, and it would require them to take a greater risk with their funds than they were able to tolerate.

Additionally, the Ombudsman criticised Integrity for its approach to the cases and said there was “no reasonable explanation as to why Integrity IFA Ltd had not responded to FOS’s requests for information or the investigator’s view on the case” after the firm failed to respond by phone or email to any communication.

FSCS Integrity IFA Ltd claims

Integrity IFA Ltd 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 Integrity IFA Ltd. Fill in our online application form to get started.

Start your Integrity IFA Ltd claim today

Apply Now
Claiming for Free Yourself

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.