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IFA no-longer authorised was found at fault in 4 cases by the Ombudsman

Cheshire-based R W Harris Limited, an IFA that was previously authorised by the FCA under number 143856, had 4 Financial Ombudsman complaints against it upheld between July 2014 and April 2016, it has been revealed.

All 4 of the complaints revolved around investments advised on by R W Harris Limited, some of which it is clear were invested in via a SIPP wrapper – a Self-Invested Personal Pension.

High Risk Investments & Ombudsman Claims

In one case (DRN8210835), Mr G complained that R W Harris advised him to invest his pension funds into

  • Pinder Fry Benjamin Regional Office Fund
  • Matrix Asset Backed Fund
  • Pinder Fry Benjamin Data Centre Fund
  • Quadris Environmental Forestry Fund

All of which were identified as UCIS (unregulated collective investment schemes) by the FOS adjudicator, and in this case, the adjudicator deemed the advice to be unsuitable for Mr G.

UCIS investments are unregulated by the FCA, and therefore outside of their jurisdiction, even when things go wrong and people lose money.

Other examples can be found using FOS reference numbers DRN1614780, DRN4589648, and DRN9526722.


Spencer Churchill Claims Advice is a Claims Management Company, regulated by the Claims Management
Regulator in regards to regulated claims management activities under authorisation number
CRM40328, and specialises in cases of pension and investment mis-selling

Alex Waters
23 February 2017
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