How do I know if I have a financial negligence claim?
Pension negligence and negligent financial advice, unfortunately, isn’t something new. Many pensions have been mis-sold by advisers over the years, resulting in the FCA setting up a fund so that those who were mis-sold to can claim some money back. But how do you know if you were mis-sold?
There are usually a number of telltale signs that suggest you could be a victim of financial negligence – these range from being sold a product that wasn’t suitable for you, to not being given the opportunity to shop around for a better investment. For further information on if you could be a victim of such financial negligence, read our guide to what counts as financial mis-selling.
Common signs of pension negligence
If any of the following statements apply to you, you were likely on the receiving end of negligent pension advice and are eligible to claim for SIPPs compensation.
Lack of understanding – Where you are new to investing and did not understand the process or investment that you were advised on.
Hard sales or pressure selling – Where you felt uncomfortable or pressured into an investment that you didn’t really need or want.
Given poor advice – Where you were advised to switch, even though your existing scheme was more suitable to your current and future pension needs.
Lack of transparency on fees – If you were not made aware of any management fees or additional costs attached to the investment.
No advice given on the risks – If you were not given advice about the risky nature of investing in property and the potential negative implications.
Advised you could avoid tax – If your financial or pensions adviser recommended an SIPP as a means of tax avoidance.
Get started with a financial negligence claim
In light of the negligent pension advice scandal, the Financial Services Compensation Scheme (FSCS) have set aside £100 million to pay for compensation costs where complaints are made about mis-selling. Here at Expert Pension Claims, we can help you with your claim.
We have a specialist pension advice team who can help and support you in making pension negligence claims. We always fight to ensure that our clients get the best representation and receive the justice they deserve.
What can be done about negligent pension advice?
When you decide to make your pension negligence claim with us, we will contact your provider on your behalf to put forward your case. We’ll explain clearly how you have received negligent investment advice.
We only employ the best team members to fight in your corner, so when you make your claim with Expert Pension Claims, you can rest assured we’re working to provide you with the best chance of success.
Where your pension adviser does not uphold your complaint, we can then take your case to the Financial Ombudsman.
If you believe you’ve had negligent pension or financial advice, we’ll take care of the hard work for you. Get started with your claim today.