Financial Advisers

Pensions Advice

Financial advisers play a key role in many people’s wealth and retirement planning. People with Self Invested Personal Pensions (SIPPs) and Full Access Pensions rely on their financial adviser to ensure that they are financially secure and able to enjoy their retirement.

We understand that people save towards their pensions and other investments throughout their working life and that it can be extremely distressing and upsetting if you lose all or part of your investment due to negligent advice. Typical negligence claims arising from pensions advice include:

  • Recommending investments to you which were too risky and which have subsequently been suspended or suffered substantial losses;
  • Failing to properly assess your attitude to risk, your annual expenditure and to make suitable recommendations;
  • Failing to advise you of important risks associated with certain investments e.g. exposure to what are complicated and risky financial products.

Within our team there is experience of dealing with claims connected to many investments including:

  • Arch Cru
  • Keydata
  • Brandeaux
  • Close Property Investment Portfolio
  • Blackrock Gold & General Fund

“Tax Efficient” Investments

Over the past decade, some financial advisors have regularly advised their clients to invest annually in certain Unregulated Collective Investment Schemes (UCIS) on the basis that they would be tax efficient by either avoiding or deferring tax. Unregulated Collective Investment Schemes can be very risky and are not covered by the Financial Services Compensation Scheme when they go wrong.

Recently HMRC has sought to crack down on many such schemes by reclaiming tax rebates and demanding payment of overdue tax and penalties. In some cases, investors are being asked to pay significantly more in tax than they would have done if they had never invested in the schemes at all.

Within our team, there is experience of dealing with claims arising from such investments, which often take the form of ‘Film Schemes’ or ‘Enterprise Zone Schemes’, including:

  • Ingenious Partnerships
  • Scion
  • Timeless Releasing
  • Future Imagine
  • Invicta
  • Cobalt Enterprise Zones
  • Globalcure / Ultragreen Carbon Trading

If you have received an Accelerated Payment Notice or a Follower Notice from HMRC in relation to an investment recommended to you by a financial professional you might have a claim for professional negligence.