HBFS Financial Services SIPP Compensation Claims

HBFS Financial Services SIPP Compensation Claims

HBFS Financial Services mis-sold SIPP pension funds to British clients between 2004 and 2016 and failed to pay returns owed. The company operated from 2010 to 2015 – the Financial Conduct Authority (FCA) no longer authorizes them to trade. They were officially dissolved in 2016. Did you invest with HBFS Financial Services?

What did HBFS Financial Services Do Wrong?

Freddy David used the legitimate cover of his company to run a parallel scam between 2005  and 2017 that has been described as a Ponzi scheme. David convinced investors, some of whom he knew personally, that their monies were being held in a high-interest bank account that was offering between four and eight percent interest annually but the money was locked in for various time periods of between three months and five years. The investments made by victims varied between £20,000 and £750,000 per person. Large sums of money were then transferred into David’s personal bank accounts for his own use as well as being used to pay other investors their “monthly interest”. Once David received the funds, he used the monies “to fund his gambling habit”, as well as for paying his children’s school fees and holidays abroad.

Freddy David’s acts have been described as a “Ponzi scheme

In addition to mis-sold SIPP pensions, Mr. David sold false investments in an imaginary ‘Bank of Scotland’ account. He never actually invested his clients’ money into the SIPP funds he sold them, and instead pocketed the money to use for his own private gains.

He is currently serving concurrent four and six-year prison sentences for fraud and deception after being convicted in 2018. He defrauded at least 55 people of at least £14.5m. Did you deal with HBFS or Freddy David during this time period?

Are you entitled to mis-sold SIPP compensation from HBFS Financial Services?

Did you ever invest with HBFS Financial Services? Even though this company is now formally dissolved and no longer authorized to trade by the FCA, you may still be entitled to mis-sold SIPP compensation. They cannot offer you any returns on your past investments, but you may be able to recoup your losses via mis-sold SIPP compensation from the Financial Services Compensation Scheme (FSCS).

If you ever dealt with Freddy David, you should have a claims expert look over all of your transaction records. Even though he is in prison and can no longer offer you returns on your investments, you may be able to access funds through the Financial Services Compensation Scheme. Our experts can assess your file and determine if you were mis-sold SIPP pension products and therefore qualify for the scheme. With our advice and assistance, you can apply for mis-sold SIPP compensation. Apply online today for an information pack to learn more.

FSCS HBFS Financial Services Claim

HBFS Financial 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 HBFS Financial 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.

  • Progress

    Are you concerned that you are a victim of pension mis-selling?

    Roughly how much do you estimate you have lost due to poor advice?

    What type of pension are you concerned about

    SIPP Provider

    Select Your Workplace

    Tell us briefly about the circumstances you want us to investigate



    Full First Name*

    Please enter at least 2 characters.

    Last Name*

    Please enter at least 2 characters.


    Date Of Birth*

    Mobile Number

    Landline Number

    Search for an Address*

    We would like to send you information about our products and services from time to time, but will only do so with your consent. Please let us know which method(s), if any, you consent to:

    If you would like to receive information from our carefully selected partners, please let us know by which method(s)

    I understand that by clicking "Submit", my eligibility will be assessed by automated technology. I understand that I can opt out of this prior to submission by opting out within the Privacy Policy
    • You're in Control: Video, Telephone or Email Consultation
    • No Win, No Fee: Just 18% inclusive of VAT
    • Change Your Mind: Cancel for Free - 14 day Cooling Off period
    • Success Fee applies outside 14 days.
    • Dedicated, Experienced Claims Handler from start to finish.
    • Long Established Claims Management Company
    • We've Recovered Over £50 million for UK consumers.