Store First mis-sold investment claims
Were you wrongly advised to invest in Store First storage pods through your pension? If you are one of the thousands of people who have lost retirement money from poor advice, you could be owed compensation – get in touch now to see how we can help!
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Store First: the high-risk investment sold to ordinary people
Many people received negligent financial advice from financial advisers to invest in Store First Ltd’s storage units, often after receiving a cold call offering a free pension review.
The model at a glance, was to allow investment in empty storage units to be managed by Store First, and pay back returns to investors through their rental.
Store First is a high-risk investment, and should have only been offered to wealthy individuals and sophisticated investors, who could understand the risk and afford to take it.
Instead, Store First Ltd Investments were often sold to ordinary people, some of whom have not seen the returns they were told they would, and often struggled to sell their storage pods and get their money back.
At Spencer Churchill Claims Advice, our team of claims specialists have experience with clients winning back money from mis-sold Store First SIPPs before, all with no upfront cost, and we offer a Free Initial Assessment with No Obligation to see if you can make a claim.
Please note: No Win – No Fee*: Successful claims made through Spencer Churchill Claims Advice are subject to the Success Fee, charged as per your terms of business and engagement letter of any monies awarded to the claim. Clients have a 14 day “Cooling-Off” period during which time they may cancel at any time without charge. After this time, cancellation will result in the application of the Cancellation Fee.
*Figures calculated before deduction of Success Fee and taxes
Can you claim for Store First mis-selling compensation?
Several financial advisers and the FSCS have been paying out compensation for the mis-selling of Store First and other investments via SIPPs and SSASs for a few years, with Spencer Churchill Claims Advice often leading the claim.
If you:
- Transferred your pension to a SIPP
- Invested in Store First Limited or other 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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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.
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Store First mis-selling and liquidation
Store First investments offered some very high and attractive returns when compared to some other, safer and FCA regulated investments, which made it easier for some pension review companies to make it sounds like a good place to invest.
But Store First is a high-risk investment, which means financial advisers should have been telling more people who don’t earn over £100k per year, and aren’t sophisticated investors that the investment was unlikely to be suitable for them.
Sadly for some, people were advised to channel tens of thousands of pounds into Store First investments, and it has resulted in many people having money locked up in Store First, and receive lower than expected returns.
Now, Store First Limited is in liquidation as of 30 April 2019 following a court order to wind up.
Store First Ltd timeline of events
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Formation
2010
Store First Limited formed back in 2010 in Lancs, but it would be a few years before marketing really got into the swing of things.
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Cold calls & pension reviews
2012
By 2012, several unregulated marketing companies were making cold-calls to prospective investors, and offering Free Pension Reviews to try to get people investing through SIPPs. Not all of these companies are still operating, like Jackson Francis and CL&P Brokers
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Store First on Radio 4
2016
Radio 4’s consumer money program You & Yours featured Store First, lending their voice to people who had invested and were unhappy. Listen here
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Winding up orders
2017
In 2017, Store First was served with a winding up order by the High Court, which was later adjourned. This is the latest we have on the situation, but you can follow Store First updates via our Facebook Page as and when there is news.
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Liquidation
2019
Store First Limited enters into insolvency proceedings from 30 April 2019.
Store First related claims
Store First compensation FAQ’s
Can I make a claim to Store First?
The main issue with Store First investments is now what the investment is or what has happened to it (it was always a high-risk investment), but how it was sold.
Negligence on the part of some financial advisers (and possibly some SIPP providers – yet to be decided by ongoing court cases) is usually to blame for the mis-selling of Store First through SIPPs.
Now, Store First Limited is in liquidation.
Who are Group First?
Group First is the parent company of Store First. They are also not regulated by the FCA.
What about the Guaranteed Buy Back?
We are aware that some investments with Store First stated a buy-back clause. We are still waiting to hear if any investors ever managed to enforce this clause.
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.
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How does our claims process work?
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
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