August 17th, 2020 | Latest News
Troubled Multicorp Rose entered into voluntary liquidation in 2019 facing complaints that it provided unsuitable advice to transfer pensions into Self Invested Personal Pensions (SIPPs) causing investors to lose out. Multicorp Rose has previously been accused of working with an unauthorised pension “introducer” firm to generate clients using “cold calling” and intensive sales tactics.
The FSCS update paves the way for affected investors to submit a claim for any losses caused by Multicorp Rose’s unsuitable advice.
Despite Multicorp Rose’s liquidation, investors concerned about losing their investment and/or the advice they were given, may still be able to recover compensation for their losses.
Where an investment provider goes out of business, compensation claims up to the value of £85,000 can still be made through the FSCS.
“We act for a number of former clients of Multicorp Rose who, in our view, were given totally unsuitable financial advice. We are pleased that the FSCS has now accepted that the firm cannot meet its liabilities to its former clients and that our clients will now be able to recover compensation for the losses they suffered due to the unsuitable advice they were given.”
Working on a ‘no win – no fee’ basis, TLW’s experienced team can help you through the FSCS compensation process. Our clients are reassured by our knowledge and experience of FSCS procedures and, indeed, we have had FSCS claims successfully upheld for clients whose claims had previously been refused on purely technical grounds.
If you are concerned about your, a friend or loved one’s investment through Multicorp Rose, please get in touch with TLW Solicitors today.
