If you received pension advice from Wellington Court Financial Services, you could be owed compensation.
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If you followed advice from Wellington Court Financial Services and transferred your pension, you may have been given misleading information and could be eligible for compensation.
The firm cold-called clients to get them on board – a practice which is now banned – before moving
We understand that our pension represents a lifetime of hard work and saving, and we want to help you get back what you are owed. If you transferred your pension fund after taking advice from Wellington Court Financial Services, contact our teams today and we can see if you can make a claim.
Wellington Court Financial Services is a financial advice firm, set up in Ireland and trading in the UK as part of the Insurance Distribution Directive.
From December 2016, the firm had temporary permission from the Financial Conduct Authority (FCA) to provide regulated advice on investment and pension transfers. In October 2020, they were told by the FCA to stop giving pension advice.Make a mis-sold pension claim
The Financial Ombudsman Service (FOS) has investigated multiple complaints against Wellington Court Financial Services. They found that the firm advised on pension transfers into an Orbis SIPP, part of Guinness Mahon Trust Corporation Limited (GMTC), or a Forthplus SIPP. Both SIPP providers have now gone into administration for not carrying out proper due diligence.
As a result of these high-risk, unregulated transfers, many people were left with pensions that were much lower than expected.
If you transferred your pension to a GMTC SIPP, the FSCS has asked that you first make a claim against Wellington Court Financial Services before they can consider a claim against GMTC.Make a claim
On 30 March 2023, the FSCS, FCA and FOS completed their investigation into Wellington Court Financial Services, finding that valid claims exist under their rules against the company.
The FSCS’s assessment teams are now considering all claims against the firm.Speak with an expert
Many of the pension transfers that Wellington Court Financial Services carried out resulted in huge financial losses for everyday people like you. Some of these investments include:
If you’re unsure on whether you were a victim of Wellington Court Financial Services, get in touch with our team today for a free consultation. We can have a no-obligation chat and help you figure out the best next steps.
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Have a look at some of the most common questions we get when it comes to Wellington Court Financial Services pension claims.
Wellington Court Financial Services was a financial advice firm that was set up in Ireland. They were authorised by the Financial Conduct Authority (FCA) to provide certain regulated activities in the UK, including advising on investments and pension transfers. However, in October 2020, the FCA told Wellington Court to stop giving pension transfer advice. In May 2023, Wellington Court was declared in default by the Financial Services Compensation Scheme (FSCS).
If you received advice from Wellington Court Financial Services to transfer your pension into a self-invested personal pension (SIPP) administered by Guinness Mahon Trust Corporation Ltd (GMTC), you may have been mis-sold. This is because GMTC was declared in default by the FSCS in October 2020, and as a result, you may have lost money.
Wellington Court Financial Services was high risk because they invested in high-risk investments, such as unregulated funds. These investments were not suitable for many investors, and as a result, many people lost money.
If you think you were mis-sold a Wellington Court Financial Services investment, you can make a claim to the FSCS. The FSCS may be able to compensate you for your losses. Don’t worry if you’re not sure where to start – our teams at Spencer Churchill are here to help. Get in touch for a free consultation today.
If you think you were a victim of the Wellington Court Financial Services, get in touch with us today for a free consultation.
Our experienced claims team is on hand to talk through your experience and assess whether you have a valid claim.Talk to a claims expert