Total Wealth Solutions Ltd received at least 3 complaints about their pension advice before closing down, forcing the Financial Ombudsman to rule against them in each of those 3 cases.
Now listed as in “liquidation”, Total Wealth Solutions Ltd is no-longer operating, and is no-longer authorised by the Financial Conduct Authority.
In June 2017, Total Wealth Solutions was the subject of a media article, chronicling how the Bedfordshire-based firm was being wound-up voluntarily, and how it was connected to the Green Retirement Pension Plan.
If you took advice to transfer your pension from Total Wealth Solutions, then you may be able to make a mis-sold pension claim and win back compensation.Get started now
We’ve no doubt that if you took advice from Total Wealth Solutions, you felt you were doing the right thing by going to a regulated pension adviser before making a decision.
Sadly, not all the advice given by Total Wealth was suitable, and your retirement may have been affected.
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
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Back in Feb 2017, 76 members of the Green Retirement Pension Plan received letters actually recommending that they make a claim against the financial adviser that recommended the scheme.
This letter came from the Green Retirement Pension Plan itself!
Why? Because those 76 people were invested into the Para Sky Plantation: A part of Global Forestry Investments, which has been under investigation by the Serious Fraud Office since 2015.
Always a high-risk investment, GFI and therefore some investments in the GRPP were NOT suitable for some people, and those people may be able to make a claim.
The Serious Fraud Office opens its investigation in Global Forestry Investments.
In decision DRN0142614 the Ombudsman upheld a complaint from Mr H about Total Wealth Solutions advice to invest in the Green Retirement Plan, and asked them to pay compensation.
In July 2019, the SFO charged Andrew Skeene in relation to their ongoing investigation regarding Global Forestry Investments. Skeene was a former director, and was charged with conspiracy to defraud, forgery and misconduct in he course of winding up.