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October 21, 2022

Influx in FSCS rejected claims enquiries

So again, we see an influx of enquiries from consumers who have had their claims rejected by the FSCS.

The FSCS and FOS are a free service to consumers set up to assist consumers who have been caused financial detriment by authorised firms on various financial products.

 

Our expertise is in Pensions and Investments so it is extremely distressing to hear how many consumers are having claims rejected by the FSCS sometimes purely based on not having enough paperwork.

 We have been able to assist numerous clients in turning rejections into a positive outcome and effectively securing consumers redress which they so rightly deserved.

 

Yes of course, this is the business we are in and the service we provide. But our service is so often seen as an unnecessary resource from the bodies who are there to make determinations on client’s claims and complaints.

 And whilst not all claims can be overturned, the majority of our client’s rejections have benefitted from our experience, knowledge and professionalism in dealing with these types of claims.

 

We have made claims and complaints against Financial Advisers, Discretionary Fund Managers and SIPP Providers to name but a few, which you would think would be relatively simple on the face of it given their failings – but as we well know this is not always the case when something as simple as a client not keeping a copy of a report from 10 years ago equates to a rejection!

 

So, when a reputable Claims Management Company such as Pension Claim Consulting feels tarnished by the bad rap the industry receives as a whole from the bodies that make decisions – maybe it best to look at the bigger picture of what’s best for the consumer and their own individual requirements and the firm’s which they use.

 

Whilst we wholly commend and always recommend a free consumer service before our own – it is clear the FSCS does not always benefit individuals without any assistance, who get swallowed up in the process to their detriment or simply give up as the process becomes too confusing or hard work and almost always believe a rejection is the final say – my personal experience tell me otherwise!

Important Information!

You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.

It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.