TLW are currently acting for a number of clients who have lost hard earned pension savings as a result of receiving advice to invest in certain types of unregulated investments.
Unfortunately, we believe that there are likely to be many thousands more in the same position. We have seen people who have attended presentations by investment companies or approached by financial advisers they have previously dealt with and offered the opportunity to invest in one of these schemes.
The schemes promise excellent investment returns but rarely are the clients made aware that these investments are unregulated and are therefore very high risk.
These schemes often include investing in the following:
- Foreign property developments
- Forestry projects
- Carbon credit
- Green Oil
- Wine stocks
A number of these investment companies are currently under investigation by the Serious Fraud Office as a result of the number of people who have invested and found that their money has disappeared and the investments are worthless. People who were only told about the great returns they could expect but not about the risks involved.
One of the most popular ways of investing in this schemes was by using pension money which had built up over the years. Either their existing financial adviser or a financial adviser appointed by the investment company would produce a report showing how much more of a return the client could make by investing in the scheme as opposed to their current pension returns.
They would then facilitate the transfer of the pension fund so the client could invest in the scheme but without advising the client of the risks or actually not knowing the risks themselves.
Most of the advisers who promoted the schemes were paid substantial commissions by the investment scheme and let this cloud their judgement. The end result being that millions in hard earned pension fund have been lost.
Our team at TLW are experienced in dealing with mis-sold pension investments and recovering the monies which have been invested.
Contact us for a free no-obligation chat to see if we can help you.
Send an enquiry, or telephone 0800 169 5925.
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