Reyker Securities was a Discretionary Fund Management (DFM) company that mis-sold SIPP pension products to many clients across the UK. Did Reyker Securities convince you to invest in unregulated, risky funds as a part of your pension transfer? If so, you may qualify for mis-sold SIPP compensation.
What Happened with Reyker Securities?
Reyker Securities Pension Investments is now in a Special Administration process led by the Financial Conduct Authority (FCA) regulators. This is in contrast to normal administration, in which professional insolvency practitioners try to save the business and/or pay creditors as much as is possible. Reyker is no longer able to pay back any investors or creditors.
DFMs build investment portfolios and encourage clients to invest in them. Reyker’s portfolios included high-risk investments, making them unsuitable for most people. Were you mis-sold SIPP pension products by Reyker Securities? If so, you can take action.
Did you ever invest with Reyker Securities? If you were a client of Reyker Securities and they encouraged you to buy their DFM portfolios, you may have been mis-sold SIPP pension products. If you are not a High Net Worth Individual (making more than £100K per year and/or with £250K in assets), they should have never recommended DFM products to you.
Reyker is no longer trading, and they cannot repay any returns on your investments. However, the Financial Services Compensation Scheme (FSCS) has made mis-sold SIPP compensation available to people who invested with Reyker. Do you qualify for these payments?
Our expert team can look over your claim and determine if you were mis-sold SIPP investments, and help you apply for mis-sold SIPP compensation. Apply online today for an information pack to learn more.
FSCS Reyker Securities Claim
Reyker Securities 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 Reyker Securities. 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.Apply Now
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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.
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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 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: firstname.lastname@example.org; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uklegal/cancellation.
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