Salina Seas is a holiday development located in Santa Maria, Cape Verde, including the Oasis Salina Seas Resort and Hotel.
If your financial advisor suggested that you move your retirement savings from a stable pension pot to a risky SIPP that included Salina Seas, you might have been mis-sold SIPP products.
Plenty of British investors were attracted to Salina Seas, a stunning holiday resort in Cape Verde. After all, who doesn’t like the idea of owning a small part of paradise? Many unscrupulous financial advisors exploited those pleasant thoughts and mis-sold SIPP pension schemes to unsuitable clients.
They offered high returns with low risks, when in fact, the Salina Seas was an unregulated fund with ultra-high risks. Thousands of British investors were duped into investing in Salina Seas, which was not regulated by the Financial Conduct Authority (FCA). There are competing theories as to what actually happened with the Salina Seas investment fund, but we do know that it fell down like a house of cards.
Now, countless people are out of their hard-earned retirement savings. They were talked into transferring their money from secure and safe pension schemes and mis-sold SIPPs that brought them financial ruin. Does this sound familiar?
Did you invest in the Salina Seas?
Depending on your answers to the questions above, you could be entitled to 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 Salina Seas, 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 Salina Seas, 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: email@example.com; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uklegal/cancellation.
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