Were you mis-sold?

Pensions & Investments

Pensions and investments are often areas prone to mis-selling, where customers may be sold unsuitable products that do not align with their financial goals or risk tolerance. Mis-selling can occur when financial advisors recommend high-risk investments or pension plans without properly assessing the customer’s needs or explaining the associated risks and fees. In some cases, customers may have been misled about potential returns or charged excessive fees without full disclosure. Identifying mis-sold pensions and investments is crucial to ensure customers are not left with products that could undermine their financial security in the long term.

Let down by the lenders because they failed to reach the standards required of their role? Any of these are potential grounds for a claim:

Selling Unsuitable Products: When pensions or investment products are sold without properly assessing the customer’s risk tolerance, financial goals, or time horizon, leading to unsuitable recommendations.
Exaggerating Potential Returns: When advisors mislead customers about the potential returns of a pension or investment, creating unrealistic expectations.
Inappropriate High-Risk Investments: When customers are sold high-risk investment products that do not align with their financial situation or risk appetite, often leading to potential losses.
Charging Excessive Fees: When financial advisors or pension providers charge excessive or hidden fees that significantly reduce the value of the customer’s pension or investment.

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Poorly Advised?

When pensions or investment products are sold without properly assessing the customer’s risk tolerance, financial goals, or time horizon, leading to unsuitable recommendations. Or when the costs associated with pensions or investments, such as management fees or hidden charges, are not fully disclosed, affecting the customer’s returns, you might have a claim.

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Low returns?

When advisors mislead customers about the potential returns of a pension or investment, creating unrealistic expectations or when customers are sold high-risk investment products that do not align with their financial situation or risk appetite, often leading to potential losses you might have a claim.

Financial Claims Experts

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Help & Support

We understand the emotional and financial toll that weak performing pensions and investments can have. Our goal is to provide you with the support and solutions you need to regain control of your finances and reclaim what’s rightfully yours.

The mis-selling of pensions and investments in the UK has left many individuals facing financial insecurity in their retirement due to unsuitable or poorly explained products.

This issue arises when financial advisors recommend pension plans without properly assessing the customer’s financial situation, retirement goals, or risk tolerance. Customers may be encouraged to transfer their pensions into high-risk schemes or self-invested personal pensions (SIPPs) without being fully informed of the potential risks or long-term consequences. As a result, they may face significant losses or lower-than-expected returns, jeopardizing their financial future. A key issue with pension mis-selling is the failure to disclose all associated fees and charges. Customers are often unaware of high management fees, hidden costs, or exit penalties that can erode the value of their savings over time. Advisors may also present exaggerated projections of potential returns to persuade customers into unsuitable pension schemes. In some cases, individuals are encouraged to transfer out of secure, defined benefit pensions into less stable options

This lack of transparency and unsuitable advice often stems from conflicts of interest, where advisors prioritize commissions or financial incentives over the needs of their clients. The consequences for customers can be severe, particularly as pensions are long-term investments critical for financial stability in later life. Addressing these issues is essential to protect individuals from financial harm and a successful claim can alleviate financial strain, helping you regain stability and control over your finances. Additionally, challenging these unfair practices holds lenders accountable, promoting greater transparency and fairness in the lending market for others. With a straightforward claims process, the potential rewards could make a meaningful difference to your financial well-being.

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Important Things You Should Know

QUESTIONS & ANSWERS

What is pensions and investments advice mis-selling?

Mis-selling occurs when financial advisors recommend unsuitable pension or investment products, fail to disclose risks, or provide misleading information about potential returns, leading to financial loss or instability for the customer.

What types of pensions or investments are commonly mis-sold?

Self-invested personal pensions (SIPPs), high-risk investment schemes, unregulated products, and pension transfers from defined benefit schemes are often associated with mis-selling practices.

Are advisors required to assess suitability before recommending a product?

Yes, financial advisors are obligated to assess your financial situation, risk tolerance, and long-term goals to ensure their recommendations are suitable for you. Failure to do so may constitute mis-selling.

What are the potential consequences of pensions and investments mis-selling?

Customers may face significant financial losses, reduced retirement income, or the inability to access their funds as expected. In some cases, mis-selling can result in higher fees, penalties, or exposure to unnecessary risk.

How can I tell if my pension or investment was mis-sold?

Signs of mis-selling include being advised to transfer a secure pension to a riskier scheme, not being informed about fees or risks, exaggerated claims about potential returns, or being sold a product that doesn’t match your financial goals or circumstances.

What is the role of the FCA and FOS in finance claims?

The Financial Conduct Authority (FCA) regulates lenders and sets strict guidelines to ensure loans are affordable and fair. The Financial Ombudsman Service (FOS) steps in to mediate disputes between consumers and lenders, providing a neutral judgment if you believe you were wronged.

These organizations are key to holding lenders accountable. If a lender fails to meet FCA regulations or rejects a valid claim, the FOS can review the case and enforce corrective actions, such as compensation or refunds.

How long does it take to resolve a claim?

The time frame for resolving a claim can vary depending on the complexity of your case and the lender’s response. Some claims may be settled within a few weeks, while others might take several months, particularly if referred to the Financial Ombudsman Service (FOS).

Our team works diligently to ensure your claim progresses as quickly as possible. We provide regular updates throughout the process, so you’re always informed about the status of your case.

How can I protect myself from pensions and investments mis-selling in the future?

Always seek advice from regulated financial advisors, request a clear explanation of risks and fees, and avoid making decisions based on high-pressure sales tactics or promises of guaranteed returns. Consider getting a second opinion if in doubt.

Ask Us Anything, Anytime.

If you suspect you were impacted by discretionary commission practices or believe your car finance agreement was unfair, reach out to us for assistance. Whether you're uncertain about the details of your agreement or need guidance on your next steps, our team is here to help clarify your options and assess whether you have a valid claim. Contact us via phone, email, or by filling out our online enquiry form. Provide as much information as possible about your car finance agreement, including the lender's name, the loan start date, and any concerns you have. Even if you’re unsure about your eligibility, it’s worth exploring—you could be entitled to a refund, compensation, or more.