Did you have a Local Authority pension? Were you advised to switch your pension? If so, it’s important to reflect and consider whether you were correctly advised. Due to widescale mis-selling of pension transfers, there is a significant risk you did not receive the correct advice.
The FCA has recently expressed concern that many independent financial advisers provided Local Authority pension holders with negligent advice by failing to consider the suitability of the transfer. This negligent advice caused Local Authority pension holders loss by transferring them to inferior or risker schemes.
Worse still, there are concerns that many independent financial advisers were being paid on a “contingent fee” basis – meaning that they only got paid if a switch occurred. This may have led to advisors to put their own income before client interests.
Here at Allegiant, if you had a Local Authority pension and were advised to transfer, we can help. A successful claim can help reverse the damage, and get you the compensation that you deserve.
To have your prospects assessed by our specialist team, simply fill in our online form.