Douglas Baillie & The Pensions Specialists

If you received advice from Douglas Baillie & The Pensions Specialists you may want to check if you should be claiming compensation for mis-selling

In 2013 Douglas Baillie suspended its pension switching business ‘The Pension Specialists’. This was after the Financial Conduct Authority raised concerns regarding compliance.

The FCA’s concerns were about how thoroughly Douglas Baillie were checking their clients’ financial situation before making recommendations.

Financial Advisers and Pension Mis-selling

A regulated Financial Adviser has a duty to ensure any recommendations they make are in line with their client’s personal and financial circumstances.

For example, high-risk investments are generally only considered suitable for people who:

  • Understand the potential risk for losses as well as gains
  • Can afford the potential losses
  • Understand this type of investment

So, if you don’t fit the criteria above, it’s unlikely high-risk investment would be suitable for you.

How does pension mis-selling happen?

A majority of mis-selling has occurred as a result of people receiving unsuitable advice and transferring into a SIPP with high-risk unregulated investments.

There have been Ombudsman decisions against Douglas Baillie for the advice they gave to clients regarding SIPPs. In particular where clients had been wrongly advised into unsuitable and unregulated investments. The investments include Storefirst, Green Oil Plantations and Harlequin Property

Latest on Douglas Baillie

Douglas Baillie appointed liquidators and in 2016 the FCA changed their status to “No longer authorised”.

In 2017 the FSCS declared them in default. This is something they do when they are satisfied a company cannot meet its financial obligations.

They are currently in liquidation.

Are you concerned about the advice you may have received from Douglas Baillie and want to talk to someone who can help you understand mis-selling and if you have been mis-sold?

Get an expert opinion with our free assessment check

Whilst each case is individual, as mis-selling specialists we know to look for certain signs that in our experience indicate that mis-selling may have happened.

Our assessment is free and there’s absolutely no obligation to use our service if you have case.

Key Facts

1
Douglas Baillie & The Pension Specialists advised clients into SIPPs which contained unsuitable investments
2
These investments include Storefirst, Harlequin and Green Oil Plantations
3
The FCA removed their authorisation and they entered liquidation in 2016

We win more than 9 out of 10 claims

The cost of our service is 18% inc VAT on the total monies awarded for a successful claim

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.