What happened to the Walsall burial plots investment scheme?
If you were coerced into investing in the burial plots scheme and you lost a significant portion of your pension funds, you will understandably want to know what went wrong with the scheme. Despite the lack of information surrounding the scheme itself, it is a story like most others regarding investment schemes ‘gone wrong’.
Without the proper due diligence – which here means the backing of the FCA (Financial Conduct Authority) – financial advisers were able to adopt whichever sales methods they liked. When an investment scheme is licensed by the FCA, that scheme and sales methods are regulated with protection of the investor in mind. So, without this the burial plots investors were left unprotected. What’s more, with high commission rates it’s highly likely that financial advisers used ‘hard sales’ tactics to coerce investors (one of the most common is making ingenuine promises regarding returns on investment). If, in the scenario that the promised returns did not materialise, these investors are left unable to recoup their money.
Fortunately, you could make a mis-sold SIPP compensation claim with us.
Are you eligible to make a compensation claim?
To determine whether or not you can make a compensation claim to recoup losses, simply cross-reference the following signs with your own experience. If the following sounds familiar to you, then you should start a claim as soon as possible.
- You felt you didn’t quite understand the process – Being relatively new to investing, you felt unclear and uncomfortable at numerous points of the process. The financial adviser did not take steps to help.
- The adviser used ‘hard sales’ tactics – Throughout the process, you felt pressured and coerced into something you weren’t sure about.
- The advice you were given was objectively poor – You were still advised to switch even though there were less benefits for you in doing so.
- There was a lack of transparency regarding fees/costs – You were not made aware of any management fees or additional costs attached to the investment.
- You were not advised of the risks involved – If you were not given advice about the risky nature of investing in property and the potential negative implications.
- It was suggested that you could avoid tax – If your financial or pensions adviser recommended a SIPP as a means of tax avoidance.
The Walsall burial plots were widely mis-sold, and a great number of people have lost huge portions of their hard-earned savings as a result.
In light of the SIPPs mis-selling scandal, the Financial Services Compensation Scheme (FSCS) has set aside £100 million to pay for compensation costs, where complaints are made regarding mis-selling cases.
We have a specialist team who can help and support you in making SIPPs claims, who always fight to ensure that our clients get the best representation, and receive the justice that you and they deserve.
We could help with your mis-sold Walsall Burial Plots pension claim
As soon as you suspect you have been mis-sold, you must get in touch. We have vast experience in such matters and with an experienced team, we can stage a strong, thorough, and convincing compensation claim to help recoup your losses and get your financial life back on track.
Simply call us on 0161 968 0768 or alternatively get in touch by filling out the enquiry form. It takes just 30 seconds to fill out, but could change your life and restore your financial status.