Financial Losses With Consumer Wealth Ltd
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Consumer Wealth Ltd went into liquidation in January 2019. This could potentially lead to their customers suffering financial losses on investments made through the company.
We are aware that Consumer Wealth Ltd advised some of their customers to transfer and invest pension money with Strand Capital Ltd through a Self Invested Personal Pension (SIPP). This company has subsequently entered into Administration and could lead to significant levels of loss for investors.
The business activities of Consumer Wealth Ltd were regulated by the Financial Conduct Authority (FCA). This means that, in certain circumstances, it may be possible for investors who have suffered losses through dealings with Consumer Wealth Ltd to seek compensation for their losses by using special claim procedures established by the industry.
Consumer Wealth Ltd were under a duty to comply with rules of business and codes of conduct set by the FCA. Failure to do this could mean that they are liable for any subsequent financial losses suffered by their clients and customers.
In particular, Consumer Wealth Ltd were under a duty to ensure that the investments and pension options they recommended were suitable, appropriate and did not expose people to higher levels of risk than what they are prepared to take.
A failure to achieve this could mean that there are good grounds for pursuing a claim for compensation to recover losses.
We are currently acting for clients who have suffered losses on pension investments recommended by Consumer Wealth Ltd. If you are similarly affected then we would like to hear from you as we may be able to assist you in bringing a No win, No fee claim to recover your losses. Please call us on 0800 152 2620 for further advice, or fill in the form and one of our Solicitors will call you back at a convenient time.
Have you suffered financial losses on a SIPP operated by a SIPP operator? If so, then you may have grounds for bringing a No Win No Fee claim.
Some SIPP operators have entered into dealings with third party advisers who are not authorised and regulated by the Financial Conduct Authority to give pension or investment advice. This is despite their regulatory body publishing alerts and giving warnings against such actions.View More