Foreman Financial Services (GraingerCo) ignores Ombudsman over mis-sold SIPP complaint

Main Highlights:

• The Tunbridge Wells firm is now closed, after the FCA revoked their authorisation
• What this means for GraingerCo clients

The Tunbridge Wells firm is now closed, after the FCA revoked their authorisation

Foreman Financial Services, which often traded as GraingerCo has

closed its doors after the FCA took action, apparently over the way it handled itself over a SIPP pension complaint.

The FCA, which regulates all authorised financial services companies,
took away GraingerCo’s ability to give financial advice after the firm failed to respond to repeated requests from the Financial Ombudsman to pay compensation to a former client over a
high-risk investment they advised the client to go into through their SIPP, which later lost the client money –
Harlequin Property.

GraingerCo, which has two other FOS complaints upheld against it relating to SIPPs, posted that it was closing its doors on its website some time ago.

What this means for GraingerCo clients

If you’ve invested your SIPP with GraingerCo, you may want to check what investments you have made inside it! Both the Harlequin Property investment and many of the Greyfriars Portfolio Six investments were considered high-risk, non-standard assets – not exactly suitable for your average pension holder.

GraingerCo may have dug their heels in over their FOS complaint, but that’s no reason to be deterred from making a claim if you have one, with the possibility of FSCS claims looming.

If you dealt with Foreman Financial Services over your pension and want to know if you have a claim, then
get in touch with the SIPP Claims specialists at Spencer Churchill Claims Advice
for a free initial assessment to see if YOU can make a claim with no upfront cost!

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Please note: you have an initial cooling off period of 14 days, if you cancel outside of this period you may be charged for the work carried out and if we have already submitted your claim, which results in an offer of compensation subsequently being made, we will charge our full fee as per our T&Cs – our fee is 20% + VAT – a total of 24%.