Investment Mis-selling News Round-up – July 2019
It’s always useful to keep up-to-date with the most recent developments in the world of mis-sold investments. Here’s a look at the latest big stories in the UK.
Mis-Sold SIPPs – the Next Big Mis-Selling Scandal Unfolding?
For the last few years, mis-sold PPIs have dominated the headlines. Now, it looks as though another investment scandal is firmly taking root in the UK – the mis-selling of SIPPs.
How fraudulent advisors used the environment to mis-sell pensions
SIPPs (Self-Invested Personal Pensions) give pension holders much more control over how to invest the money in their pensions.
Green Oil SIPP mis-selling: manipulating an honest desire to invest sustainably
People make decisions for lots of different reasons. A desire to protect the environment is high up on the list for many people. It's why so many have now stopped using plastic bags, for example.
How Sustainability Investment Schemes are Used by Mis-Sellers
Many mis-sold SIPP investments have just one major hook, albeit a compelling one – the promise of significant returns. This hook is often dressed up in different ways,
What was Global Forestry?
Global Forestry was a SIPP investment scheme that many pension holders in the UK invested in. They did so because of the promise of healthy returns and because the investment was labelled as being green, i.e. they were investing in something that would make them money and that was also good for the environment.
How Freedom Bay Was Made to Look Good to the Wrong Kind of Investor
An investment on a luxury island that promises large returns as well as the opportunity to spend time in the resort – sounds great doesn’t it? This is what many people were told when trying to decide where to invest their SIPP (Self-Invested Personal Pension). The product they were offered was called Freedom Bay.
Is It a Good Idea to Invest Your Pension into Farmland?
Food is a commodity that will have a market regardless of consumer trends, economic circumstances, or the Government in Westminster. Is farmland, therefore, a good investment? More importantly, is it a good idea to invest your pension into farmland?
Why Ethical Forestry turned bad for investors
Ethical Forestry was an investment product that many people invested in using a SIPP (self-invested personal pension), but it went horribly wrong. Many investors who lost their money found they had been mis-sold the product in the first place. What went wrong, and what lessons can we learn?
Tips For Avoiding Bad Pension Advice
Some important advice on how to avoid falling into the mis sold pension trap.
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After sending a report to Santander, they agreed with our findings and awarded Mr Snowden an amount of £7,000 made up from a refund of the losses together with interest and compensation.
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We reported our findings to Halifax and within a matter of weeks had secured our client the sum of £26,700 in compensation.
After we sent a detailed complaint to Halifax, Fred was delighted to receive £6,916 from the bank in a matter of weeks.
Having investigated the complaint Lloyds TSB agreed that the advice was unsuitable and agreed to pay the clients £10,000.