The pension advice firm Juno Moneta Capital Management Ltd has been declared a failed firm by the Financial Services Compensation Scheme (FSCS). Juno Moneta Capital Management Ltd built a name in Cardiff through dealings with former and current professional rugby players and sponsored the Scarlets rugby union club, after striking a six-figure deal with them two years previously. However, the company has now been declared a failed firm by the FSCS on 06 May 2022 after being linked to potential pension and investment mis-selling and currently has two claims against it with FSCS.
While in existence Juno Moneta Capital Management Ltd operated from South Wales. It was originally incorporated in August 2013 under the name of Coricillum Ltd but has also traded under the names of Morgan Peterson and BL Financial Planning. The company had 8 officers: John Cameron Saunders (Director), Andrew John Boyt, (Director) Lesley-Anne Creffield, (Director) Cassie Heywood (Director- resigned), Richard James Heywood (Director- resigned), Louisa Emily Tallett (Director- resigned), Neil O’Halloran (Director – resigned), Andrew Neil Pike (Director – resigned).
Were you mis-sold SIPP or investment products by any of the advisors at Juno Moneta Capital Management Ltd? If so, you may qualify for mis-sold pension or SIPP compensation from the Financial Services Compensation Scheme (FSCS).
A lot of advisers recommended customers transfer their existing pension into a SIPP for it then to be invested into unregulated high-risk, dubious or inappropriate investment schemes that failed spectacularly, sometimes resulting in whole savings being wiped out.
A SIPP or Self-Invested Personal Pension is a do-it-yourself pension that gives you freedom and flexibility as to how your pension is invested. You can put your money in a wide range of assets including property and Unregulated Collective Investment Schemes (UCIS). Your investment is held in the pension wrapper until retirement, at which time it can be turned into income.
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 the “wrong” type of investor being given poor or misleading advice as to what investments were relatively safe and right for them.
If you have been advised to transfer a pension into a SIPP or into an investment by Juno Moneta Capital Management Ltd or any other financial advisor that was not right for you, compensation could be due to you for pension mis-selling. If you are unsure if you have been mis-sold, get in touch and our friendly team will review your claim for you.
You won’t get a penny from Juno Moneta Capital Management Ltd as they are now officially dissolved, and they can no longer pay out any returns. Nevertheless, you may be due compensation through the Financial Services Compensation Scheme. Juno Moneta Capital Management 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 Juno Moneta Capital Management Ltd. Fill in our online application form to get started.
In this article, Allegiant’s Pensions & Investments Manager, Andy Ramsay, explores the fundamental differences between the Court and Ombudsman routes for resolving pension & investment claims. The article highlights key differences in:-
Andy further explores outdated 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.
As of the 1st March 2022 we have implemented a new fee structure which we have explained below. If you signed your contract with us prior to the 1st March 2022, please refer to your signed claims pack for our previous fee terms.
Our fees are owed upon a successful claim and will depend on the Gross Compensation you receive. “Gross Compensation” means the amount awarded to you whether this is paid directly to you or paid into an investment or pension, and prior to any deduction of any income tax due to HMRC on your award. Please refer to the definition of “Gross Compensation” and Section 5 of our Terms of Engagement for further information including a table showing how our fees work in different scenarios.
If successful, your fee will be calculated based on which band your redress falls into and will be charged by whichever is the lowest of:
The below table outlines the redress bands, the maximum percentage rate of charge and the maximum total charge is for each band.
|Band||Redress||% Charge (including VAT)||Maximum charge (including VAT)|
|1||£1 – £1499||36%||£504|
|2||£1,500 – £9,999||33.6%||£3000|
|3||£10,000 – £24,999||30%||£6000|
|4||£25,000 – 49,999||24%||£9000|
Examples of how this would work in practice:
|Band||Lower example||Higher example|
|1||You receive £100 in redress; our fee would be £36.||You receive £1499 in redress; our fee would be £504.|
|2||You receive £1,600 in redress; our fee would be £537.60.||You receive £9,999 in redress; our fee would be £3,000.|
|3||You receive £12,000 in redress; our fee would be £3,600.||You receive £24,999 in redress; our fee would be £6,000.|
|4||You receive £30,350 in redress; our fee would be £7,284.||You receive £49,999 in redress; our fee would be £9,000.|
|5||You receive £55,000 in redress; our fee would be £9,900.||You receive £100,000 in redress; our fee would be £12,000.|
Please note, the above fee examples are for illustration purposes only. They are not an estimate of the likely outcome or fee you will need to pay. Each claim depends on its own merits.
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: [email protected]; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uk/compliance/cancellation.
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