Premier Children Service seemed like an excellent investment – a way to earn handsome returns while helping vulnerable children. However, the reality was much more complicated, and many people were mis-sold SIPP products. Did this happen to you?
Premier Children Services was incorporated as a holding company to fund a number of child care facilities in 2012. They planned to become a leader in children’s social care and touted their innovative approach. Clients were sold three or five-year Loan Notes that promised 8% (3-year) or 9% (5-year) returns.
However, by 2016, the Premier Children Services board gathered to discuss their ‘financial difficulties.’ It became clear that the project was insolvent, and they appointed Stephen Gerard Clancy and Stephen Muncaster of Duff and Phelps as administrators.
Simply put, you will no longer receive any returns from Premier Children Services. However, you may be able to recoup some of your money through mis-sold SIPP compensation, made available by the Financial Services Compensation Scheme (FSCS) or Financial Ombudsman Service (FOS).
Advisors sold investments in Premier Children Services through cold calling and mis-sold SIPP pension funds to people like you. This high-risk, unregulated fund should have only been sold to High Net Worth Individuals, those who earn more than £100K per annum and/or have more than £250K in investment assets. If you are not a High Net Worth Individual, you should have never been mis-sold this product.
Our claims experts can help assess your case. Apply online today for an information pack to learn more.
FSCS Premier Children Services Claim
Premier Children Services 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 Premier Children Services. Fill in our online application form to get started.
You do not need to use a claims management firm to make your claim and if your complaint is not successful you can refer it to the Financial Ombudsman Service or in the case of a failed firm, the Financial Services Compensation Scheme, for free.