The Resort Group (TRG) pension claims
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Were you a client of The Resort Group?
If you invested in TRG without knowing the risks, you might’ve been mis-sold. Many investors were drawn in by promises of high returns from irresponsible SIPP providers, only to find their savings at risk from misleading or unclear financial details. These investments were often targeted at those with little experience or sold through cold calls and high-pressure tactics.
If this sounds like your situation, you could be entitled to SIPP compensation. Reach out to our expert team now to see if you’re eligible for a claim.
The Resort Group scandal
The Resort Group’s investments were mainly tied to Cape Verde properties. These were high-risk and unregulated by the Financial Conduct Authority (FCA). However, some financial advisors and SIPP providers sold these investments to clients as safe.
To keep the money flowing in, TRG promised returns of up to 20% per year – returns that never materialised. High-pressure cold calls from SIPP providers for “free” pension reviews convinced many to invest in unsuitable schemes. If you were sold one of these investments by irresponsible advisors and lost your hard-earned savings, you could be eligible for compensation.
See if you qualify – reach out today and start your claim.
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Let’s rewrite your financial story
We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.
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.
We are committed to transparency and fairness in the way we conduct with clients, including how we charge for our claims services.
Where did your financial advisor invest your pension?
If you moved your pension into a Self-Invested Personal Pension (SIPP) to fund The Resort Group’s developments without fully knowing the risks, you may have been mis-sold. These high-risk investments often failed to deliver the promised returns and left investors out of pocket.
Think you have a claim? Get in touch now to see if you’re eligible for compensation.
The Resort Group Plc timeline of events
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Early sales pitch or TRG investments
Before 2010
The Resort Group started selling luxury property investments in Cape Verde, encouraging investors to use their pensions to invest in overseas developments. The idea was that these investments would bring in big returns, but they were much riskier than people realised.
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Aggressive sales and unregulated advice
2010-2015
TRG ramped sales efforts with unregulated financial advisers, leading many UK investors to believe these properties were safe, high-return options for their pension funds. In reality, they were unsuitable for most people, especially those nearing retirement.
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Investor concerns and FCA warnings
2016-2017
Investors started noticing problems – returns were far below what was promised, and selling properties turned out to be extremely difficult. The FCA began issuing warnings about the risks of using pensions for overseas property investments.
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Realisation of mis-selling and rising complaints
2018
Investors began to realise they’d been mis-sold, and their pensions were tied up in high-risk, hard-to-sell properties. The Financial Ombudsman Service (FOS) began handling many cases related to TRG around pension mis-selling.
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2019-2020
Several SIPP providers linked to TRG went bust, leaving investors struggling to get their money back. Legal claims surged, with more and more people realising their pensions had been mis-sold.
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2021
Courts and the Financial Ombudsman began ruling in favour of investors. It became clear that TRG properties had been mis-sold as pension investments for people who were too close to retirement to take on such risky investments.
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2022-2023
With more claims being filed, TRG denied wrongdoing, pointing the finger at financial advisers and SIPP providers instead. Meanwhile, the FSCS has been paying compensation to those affected.
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2024
The legal battle and compensation claims are still ongoing. Many investors are still trying to recover their lost pension savings, and regulators are keeping a close eye on situations like this to prevent similar mis-selling in the future.
Resort Group Cape Verde complaints
Its worth noting that when you read about Resort Group Cape Verde complaints, they are often complaints about the way it was sold, rather than complaints about the Resort Group itself.
Regulated financial advisers had the duty to inform prospective investors about the high-risk nature of a Resort Group investment, and to ensure that an investment would be suitable for their client.
Many failed, meaning hundreds were mis-sold their investments via SIPP and SSAS pensions.
Action against The Resort Group
The Financial Services Compensation Scheme (FSCS) has already paid-out £Millions on claims relating to advice given on The Resort Group products.
Resort Group related claims
Resort Group mis-selling compensation FAQs
How do I know if I was mis-sold The Resort Group investment?
We’d have to take a look at your potential claim to be sure, but essential it comes down to RISK PROFILES.
Every investment has a risk category, and every individual investor has a risk profile. For an adviser to consider an investment suitable, the risk profile has to match the risk of the investment – simple!
The Resort Group was always a high-risk investment, and as such, advisers should have only been telling people who understood the risks, had enough investment experience, and had enough money to undertake the risk.
Many advisers failed to perform their due diligence on the investment and their clients, leading to many mis-sold Resort Group pensions.
Why is The Resort Group Cape Verde high risk?
Being both registered and based abroad, The Resort Group is NOT regulated by the FCA (Financial Conduct Authority). It means that the FCA isn’t looking over its shoulder.
How can I get compensation for a mis-sold resort group investment?
If you took negligent financial advice to invest in The Resort Group, or simply moved your pension to a SIPP in order to invest, then you maybe able to get Compensation.
If your adviser is still operating then you can make a complaint directly to them, or through the FOS, or if the adviser is no-longer running the FSCS may pay you compensation.
Speak with a specialist at Spencer Churchill Claims Advice for a free, no-obligation discussion about your potential claim.
Is The Resort Group still running?
In short, yes. However many investors have reported that they have not had their returns paid for months at a time.
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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