Former clients of financial advisers J Richfield t/as Sovereign Financial Services may be interested to know that as of the 30th of May 2017, the firm is in liquidation, with Vincent John Green and Mark Newman as Joint Liquidators of the IFA.
Further to that, the Financial Conduct Authority – the FCA – has told J Richfield t/as Sovereign Financial Services “not to undertake UCIS Activities”, before later cancelling their authorisation all together.
The team at Spencer Churchill Claims Advice have experience that J Richfield t/as Sovereign Financial Services mis-sold pensions to many of their clients, often involving unregulated land-banking schemes invested through SIPP pensions.
Now, some people are waking up to the poor advice that was sometimes given by J Richfield t/as Sovereign Financial Services and making mis-sold SIPP claims to recover some or all of the money they had earmarked for retirement.
If you’re one of them, speak to the team at Spencer Churchill Claims Advice to see if you can make a claim for pension mis-selling on a No Win – No Fee* basis.Get started now
Our team have experience with negligent pension advice given by J Richfield t/as Sovereign Financial Services, and with the firm now in liquidation, the FSCS may be able to pay out compensation for successful claims against J Richfield t/as Sovereign Financial Services.
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
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UCIS investments can be a problem if you’re not suitable for them. Unregulated Collective Investment Schemes are NOT under the jurisdiction of the FCA, meaning that investors don’t get any help from the Ombudsman or FSCS when they go wrong.
Both Carbon Credits Schemes and Land Banks like the Cadnam Plot are classic examples of high-risk investments that could (and often do) destroy people’s pensions, and both of these investments are known to have been on the books for some J Richfield t/as Sovereign Financial Services clients.
If you invested, you may still be able to begin the mis-sold pension claims process.
J Richfield t/as Sovereign Financial Services was officially registered by the 23 July 2010 in Aylesford, Kent.
J Richfield t/as Sovereign Financial Services goes into insolvency proceedings, resulting in a Creditor’s Voluntary Liquidation
J Richfield Ltd was the actual name of the financial advice firm that traded as Sovereign Financial Services. It is quite common for a company to have a trading name or trading style, but officially, the firm as J Richfield Ltd.
We may never know why Sovereign gave unsuitable advice to their clients to invest in High-Risk investment schemes like Land Banks and Carbon Credits.
We do know that other advisers that have done the same may have benefited from high-end commissions: kick backs from the investment companies to funnel business their way, but as for Sovereign, we simply don’t know.
Either way, the advice was unsuitable, and if you did the same, you may be able to make a claim.