As financial advisers based in Northern Ireland, The Financial Factory Ltd had rules to follow when giving people advice about their pensions, ensuring that their clients don’t take on more risk than they can afford with an unsuitable pension transfer.
But our team know know that they didn’t always get their pension advice right, having facilitated some of their clients’ transfers into SIPP pensions to make high-risk and non-FCA regulated investments, like overseas property scheme Harlequin Properties.
Financial advisers should be making sure people have the knowledge and experience to handle investments like these, as well as the wealth and/or income to be able to take the risk on, before recommending high-risk investments like these.
Now, the Financial Factory Ltd is no-longer authorised by the Financial Conduct Authority, and have been declared in default by the FSCS, with 2 FOS decisions upheld against them for SIPP pension related mis-selling.Get started now
It is a documented fact that The Financial Factory mis-sold some people their new pension arrangements, but did they mis-sell to you?
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
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In June 2014, the company went into insolvency proceedings, with a meeting that led to a Creditor’s Voluntary Agreement.
In September 2017, 2 separate complaints were upheld against The Financial Factory Ltd, both involving advice to invest in Harlequin Properties through a SIPP pensions. You can read the first one here