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After having been found to have mis-sold many SIPP pensions, Solihull based financial advisers Cherish Wealth Management Limited no-longer themselves as providing “effective financial advice which clearly reviews, discusses and ultimately meets each individual or organisation’s specific financial requirements”.
In fact, they don’t describe themselves as anything at all, having closed down and gone into liquidation in 2016, leaving their legacy behind them.
Can you make a Cherish Wealth Management claim?
Several financial advisers and the FSCS have been paying out compensation for mis-selling investments via SIPPs and SSASs for a few years, with Spencer Churchill Claims Advice often leading the claim on a No Win – No Fee* basis.
If you:
- Transferred your pension to a SIPP
- Made high-risk investments
- Aren’t earning over £100k per year
- Aren’t a Sophisticated Investor
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
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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.
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.
Cherish Wealth Management liquidation
When financial advisers mis-sell SIPP pensions and investments to their clients, they may be forced to pay compensation through mis-sold pension claims.
Whether they have enough money to pay all the compensation is a different matter. Depending on what level of professional indemnity insurance they have, and how much they’ve got in the bank, a single claim can sometimes bring down a company because of the damage it can do to that single client’s retirement fund.
In the case of Cherish Wealth Management, it quickly went into insolvency proceedings and into a liquidation: this is where an external team of professionals are brought in to break up the company, and potentially sell its assets to pay back creditors (such as claimaints!).
When a company cannot pay claims and goes into liquidation as Cherish Wealth Management did in 2016, the FSCS may step in to pay claims on the company’s behalf – a safety net to make sure those who have been mis-sold get the compensation they deserve.
If you switched or transferred your pension with Cherish Wealth Management, or took investment advice from them, you may be able to make a claim.
Cherish Wealth Management timeline
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Cherish formed
2008
Cherish Wealth Management is created, with Steven Edward Wright as one of the directors.
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Appointed representative
2010
Cherish Wealth Management becomes an Appointed Representative of Shah Wealth Management.
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Wright resigns
2011
Steven Wright resigns as director on 6 November 2011.
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Real Estate Investments USA
2013
Steven Wright signs on as director at Real Estate Investments USA Plc (InvestUS), a high-risk overseas property investment, later advised on by Cherish Wealth Management. Wright denies a conflict of interest.
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Liquidation
2016
Articles spring up in financial news outlets such as CityWire about Cherish Wealth Management’s liquidation, linked with SIPP advice and high-risk investments.
Related to Cherish Wealth Management
Cherish Wealth Management FAQs
What Is The Connection Between Cherish Wealth Management And InvestUS?
Real Estate Investments USA and Cherish Wealth Management both shared the same director, Steven Edward Wright, but not at the same time.
Wright left Cherish Wealth Management and became a director of Real Estate Investments USA. Cherish then advised (often unsuitably leading to claims) on many SIPP investments in Real Estate Investments USA.
Wright has always denied a conflict of interest.
Is Real Estate Investments USA High-Risk?
InvestUS/Real Estate Investments USA/Exit Strategy are all considered to be high-risk investments because they are not regulated by the FCA.
With assets based abroad, they sit outside the remit of the Financial Conduct Authority.
High-risk investments are not generally considered suitable for average, or ‘retail’ investors, and these schemes were widely mis-sold.
What Happened To The Cherish Wealth Management Directors?
Two former Cherish directors went on to form a new company – Cherish Premier Wealth.
The firm however is not regulated to provide financial advice.
Do you know how people complained about mis-sold investments and pensions in the last year?
A lot. Over twenty thousand complaints were made about mis-sold pensions and investments in 2020/21, a figure which had doubled since the year before.. It’s no secret how serious this problem is, and it just seems to keep getting worse.
Have you been a victim of financial mis-selling?
Reaching out for help is never easy,
especially if you’ve been misled in the past.
But getting in touch with us won’t commit you to anything. We want to toss you a lifeboat and guide you through the choppy waters of the financial ocean, not leave you struggling to stay afloat. Our experts are here to offer advice and support on financial claims. We know what we’re doing and you can trust that if you’ve got questions, we’ve got answers.
Spencer Churchill Claims Advice featured on:
Spencer Churchill Claims Advice will:
- Speak to you in plain English
- Provide you with a dedicated claims specialist
- Pay attention to the small details of your case
- Keep you up to date with the status of your claim
- Make sure you understand our charges
- Do absolutely everything we can to win your claim
How does our claims process work?
With millions of mis-sold pensions reported, it’s worth finding out if you can get your money back. Here’s how our simple process works:
What types of claims do we handle?
Find out how much you could claim today
Ready to take the next step? We’re here with clear, no-pressure advice. Give us a call today to find out if you have a valid claim
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Tuesday: 8:00am–6.00pm
Wednesday: 8:00am–6:00pm
Thursday: 8.00am–6.00pm
Friday: Office Closed