SJP forced to shell out £75k to musician swept up in rogue adviser scheme
Philip Cox recommended clients invest in his friend’s start-up that later went bust
FOS
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SJP rejects mis-selling and forgery allegations
A client reported the firm to the Ombudsman over doctored documents
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Ombudsman finalising decisions on British Steel complaints
Grievances about cash equivalent transfer values and early retirement factors
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Advisers face PI woes after FOS award hike
Pimfa warns move could widen the advice gap and act as a barrier to entry for smaller IFAs
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Assets of beleaguered Liberty Sipp sold
Buyer will not take on potential liabilities linked to mass mis-selling claims
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FCA goes after two introducers over pension transfers
UK regulator reveals the names of two companies and three individuals
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Advisers claim FOS biased towards complainants
In a recent IFA survey, 83% thought the financial ombudsman treated them as “guilty until proven innocent”
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Cold-called investor wins compensation
A company that downplayed the risks of buying shares in unlisted companies to a cold-called investor has been ordered by the UK’s Financial Ombudsman Service (FOS) to put the investor into the position she would have been in had she never invested.
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Intrinsic to compensate client for pension transfer charges
Intrinsic Financial Planning has been ordered by the UK’s Financial Ombudsman Service (FOS) to compensate a client who says he was not aware of the charges that were applied to his pension on transfer.
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Former adviser loses mismanaged Sipp claim against Rathbones
The UK’s Financial Services Ombudsman (FOS) has ruled in favour of Rathbones in a case where a client alleged the provider mismanaged his Self-Invested Person Pension (Sipp) portfolio, leading to its underperformance and a financial loss.
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Alan Shearer adviser banned for taking insolvent company assets
A UK-based IFA, whose former client was England striker Alan Shearer, has been banned from holding a directorship for sneaking £76,000 from his insolvent advice firm.
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Nutmeg ordered to pay ex-client for ‘irritating’ mistakes
The Financial Ombudsman Service has ordered Nutmeg to pay a former client for “numerous mistakes” surrounding direct debits on his pension plan that were likely to cause irritation.