MFS Partnership (SW) LLP isn’t running anymore, in fact it’s been declared in default with the FSCS, meaning that the life-boat fund is satisfied that MFS Partnernship can’t pay clients compensation if they’ve received bad advice, and the FSCS will have to pay instead!
But the big question is, did MFS Partnership deal with YOUR pension?
If so, then you may have been mis-sold and could be able to make a claim on a No Win – No Fee* basis.Get started now
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.
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
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Reported in FT adviser, Mr S was a client of MFS Partnership in 2012, and transferred £210,000 into a SIPP pension, and invested in the New Earth Recycling Fund – a high-risk investment, not regulated by the watchdogs at the FCA.
Mr S lost a lot of money when New Earth began to go wrong.
The Ombudsman helped Mr S get compensation, but can’t take on new cases against MFS Partnership now the firm has gone into liquidation.
MFS partnership had 3 complaints published against it in 2016, some of which referred to New Earth Recycling, and one to off-shore property bonds.
The firm entered into a Creditor’s Voluntary Liquidation in November 2016