• Free Initial Assessment: No-Obligation Chat

Furness Financial Management – 2 win claims for mis-sold pension advice

Furness Financial Management

The FOS found in favour of the client in two cases involving unsuitable pension investments in SIPPs

Furness Financial Management, no-longer authorised by the FCA and declared “in default” with the FSCS, was based in Staffordshire, and as of 2017 has 2 FOS decisions held against it, both relating to advice it gave clients about moving their pensions into SIPPs: Self Invested Personal Pensions, and about the suitability of the underlying investments.

Furness Case 1: DRN9563217

“Mr D says it [Furness Financial Management] made different arrangements for his pension funds to the ones agree. Because of this, MR D has suffered a financial loss”.

In August 2014, Furness approached Mr D and advised on the suitability of a new pension arrangement, but then executed alternative plans involving investments that were either “unavailable or not viable”.

Furness Case 2: DRN3341501

Mr H received advice from Furness Financial Management Limited, advising her to open a SIPP to invest in a UCIS – an unregulated collective investment schemes. (UCIS are characterised by falling out of the jurisdiction of the FCA, and are therefore considered high-risk investments).

This advice was given despite Furness noting that Mr H “had little previous investment experience”, therefore not fitting the description of a Sophisticated Investor needed to enter such investment. Nor was there any evidence to suggest he was a “High Net Worth Individual”, earning £18,000 per year instead of £100k+.

Furness Financial Management invested Mr H’s SIPP into Best Car Parks fund, which offered high-returns but was unregulated and high-risk.

Do you have a similar case?

If you’ve dealt with Furness Financial Management, our claims specialists would like to chat – all part of a FREE initial assessment to see if you could make a claim, so if you’ve got a SIPP and aren’t sure about your pension arrangements, get in touch!

Alex Waters
27 July 2017
Share this post:

Speak to an expert today

We have decades of experience in helping people claim back money that is rightfully theirs. Whether you want to make a mis-sold pension claim, have questions about a mis-sold investment, or you’re just looking for some advice you can trust – we’ve got you covered. Reach out to our team today for a no-obligation, completely free chat. 

Call: 01204929929

Office Hours:

Monday: 8:00am–6:00pm
Tuesday: 8:00am–6.00pm
Wednesday: 8:00am–6:00pm
Thursday: 8.00am–6.00pm
Friday: Office Closed

This field is for validation purposes and should be left unchanged.
No Upfront Fees

Let’s Rewrite Your Financial Story

We are here to rewrite the book for you. 
And luckily we are pretty damn good at creating happy endings.

Money Hands

We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.


When you get let down by someone you thought you could trust, it can leave its mark on you, emotionally and physically.


We are committed to transparency and fairness in the way we conduct with clients, including how we charge for our claims services.