New Earth Recycling was a fund concerned with green technologies and recycling, operated by the Premier Group on the Isle of Man. Thousands of British investors were mis-sold SIPP products and convinced to invest in New Earth. Did your advisor fail to warn you about the risks of unregulated funds, such as New Earth Recycling? If this is the case, you may be entitled to mis-sold SIPP compensation.
In July 2016, New Earth Solutions Group revealed that the £9 million they owed to their creditors would not be paid back. More than £4 million of this amount was owed to investors who were mis-sold SIPP pension funds. Their financial advisors had convinced them that green funds, such as New Earth Recycling, were a good idea. Does this sound familiar to you?
Though the fund was registered to a Dorset address in England, it was operated by the Premier Group, based on the Isle of Man. The Isle of Man Financial Services Authority (IOMFSA) has now revoked the Premier Group’s license.
Did your financial advisor alert you to the high-risk nature of New Earth Recycling? Did they make you aware that it was a non-standard asset, and as such, was unregulated by the Financial Conduct Authority (FCA)? New Earth recycling should have only been recommended to High Net Worth Individuals with more than £100K per annum and/or investment assets of more than £250K. If you were advised to remove your pension savings from a reliable scheme and invest in a high-risk SIPP instead, you may have been mis-sold SIPP products.
Our claims experts will go through your case and assess your investment history to determine if you qualify for mis-sold SIPP compensation. Apply online today for an information pack to learn more.
If a financial advisor advised you to invest in an unregulated investment such as New Earth Recycling, 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 New Earth Recycling, 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
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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 £250 plus VAT £50. This means the amount payable to us is £300 leaving you with the benefit of £700.
• Compensation is £3,000, the fee is £750 plus VAT £150. This means the amount payable to us is £900 leaving you with the benefit of £2,100.
• Compensation is £10,000, the fee is £2,500 plus VAT £500. This means that the amount payable to us is £3,000 leaving you with the benefit of £7,000.
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.
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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.uklegal/cancellation.
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