Beaufort Securities Claims
Beaufort Securities was a discretionary fund manager and stockbroker. It sold a number of pension products, including SIPPs. It is now in administration, though, with hundreds of investors registering complaints with the financial ombudsman.
Were you mis-sold a SIPP from Beaufort Securities? If so, you should seek advice on how you can claim your money back.
Get Help Claiming Money Back on a Mis-sold SIPP Beaufort Securities
Our experienced advisors have been following the Beaufort Securities story for several months now, so can give you advice and help you make a claim. Complete the form on this page so we can get a member of our team to give you a call back.
What Went Wrong at Beaufort Securities?
At the time of its collapse, Beaufort Securities was managing about £900 million and had around 14,000 clients.
Problems with the company first came to light in late 2016 when the Financial Conduct Authority (FCA) placed restrictions on the firm. Those restrictions limited what it could do unless it directly consulted the regulator.
The scale of the issues faced by investors can be seen by the number of complaints made to the Financial Ombudsman Service – it has received around 600.
Things started to really unravel, however, on 1 March 2018 when it was revealed the Department of Justice in the US had charged Beaufort Securities along with other companies and individuals. The charges included money laundering and securities fraud.
Within hours of this announcement, the FCA made an urgent application which resulted in Beaufort Securities being placed into administration. PricewaterhouseCoopers have been appointed as the administrator, but there remain questions over whether SIPPs customers will get their money back.
If you believe you may end up out of pocket, please call us today on 0808 252 3696 to find out how we can help you recover your money.
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