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“I am extremely grateful for what your claims team has done for me, without your help and advice I would never have done anything regarding my SIPPS Pension, I would never have thought the outcome would be as it was. I would definitely recommend your company – Miss M
“I’d like to thank all the staff. Thanks to you all I can now see a future when I retire. I was very anxious and lot of stress has been lifted. It was an absolute pleasure dealing with you all and I am more than satisfied with the outcome” – Mr. L
“I can’t fault your services it has been a complete pleasure dealing with yourselves. I thought I’d lost all my pension money and I can’t thank you enough, not only for winning my pension claim but for showing me I can now relax into retirement.” – Mr P
If you believe that you might have a pensions misselling claim in the UK, then you should act fast because your claim might prescribe before you can ever recover. Of course, in general, when it comes to cases of fraud, prescription does not apply. Furthermore, any prescriptive periods on a pensions misselling claim or some similar financial misselling claim is actually to be counted from the date of discovery of the bad financial advice.
Pensions Misselling Claim – Bad Financial Advice
Ultimately, your pensions misselling claim will all hinge upon one very important allegation which must be proven – bad financial advice. So what exactly is bad financial advice? It is not to be judged subjectively as “bad,” but rather, it must be proven that you were given financial advice which caused you to buy a financial product that was unsuitable for you.
So how do you know that you have a pensions misselling claim on your hands and that you may be able to recover? Well, what is important is that you are able to identify that you were given incomplete information or wrong information about a financial product and that without this misinformation, you would not have bought the product. The good news is that you do not have to prove that you suffered damages if you want to make a claim for pensions misselling. What is important is that you were duped into buying a financial product that was unsuitable for you and that you relied upon the bad financial advice of an advisor.
Different Types of Misselling
There are actually many types of financial misselling and one of the most common types involves your SIPP or Self-Invested Personal Pension. To make thing simple, this is basically a do it yourself pension plan. These types of pension plans give you a lot of flexibility as to the types of investments that you would like to enter into using your SIPP. Naturally, many people look to financial advisers for advice as to where to focus their investments – this is where you might be tricked into investing into high risk, high rewards investments through dubious financial advice. This can also be the case if you leave things up to your financial adviser and your adviser does not exercise due diligence in choosing suitable financial investments for you, this could also give rise to a pensions misselling claim.
Try to find out whether your financial adviser may have strongly advised you to invest in a particular investment plan without informing you of all the risks involved. Furthermore, try to investigate your SIPP and whether its value has actually decreased despite strong promises otherwise from your financial adviser. Most importantly, ask yourself if your financial adviser has actually informed you of all the risks involved in any investments that you were encouraged to make.
The very fact that your financial adviser did not properly check to ensure that your SIPP investments were safe and secure is actually good enough to sustain a claim for pensions misselling. If you believe that you have a claim, get in contact with a solicitor as soon as possible for professional legal aid.
If you’ve got any questions regarding this or you’d like to know more about making a claim, please call out team on 0161 850 9069.