In 2016 Greyfriars Asset Management LLP – a Discretionary Fund Manager (DFM) and SIPP provider company – were requested by the FCA to stop accepting new money into their DFM Portfolios, in particular Portfolio Six.
The Financial Conduct Authority register stated at the time that Greyfriars must ‘cease accepting any new money into the Greyfriars Asset Management Portfolio Six on a permanent basis’
Greyfriars Asset Management went into administration in October 2018.
Portfolio Six received a lot of media attention, mainly due to the fact that it contained several high-risk investments which were unsuitably marketed at investors, as part of their SIPPs.
These investments included Lanner Car Parks, The Olmstead Series and The Resort Group – which was subject to a BBC Panorama documentary
A Discretionary Fund Manager (DFM) has a duty to make sure they match the investments in your portfolio with your attitude to risk. High-risk investment can be a great option for some, but is usually only suitable for people who meet the criteria, which includes;
So if you were given bad investment advice and ended up in high-risk investments which aren’t suitable for you – you could make a claim for compensation against that advice.
If you were advised to transfer into a SIPP and you have concerns about the advice you received, or the investments within your SIPP it would be wise to get that advice checked and would like to talk to our team about it call 0114 2664216.
Or we offer a free initial check to see if you may have been mis-sold. It’s just a simple chat with one of our team who can briefly assess if you may have a case. There’s no obligation to use our service.
Fill in the enquiry form to arrange a call back at a convenient time for you.
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 Compensation Scheme, whichever is applicable to your claim.
We will not make or pursue a claim, or advise you to, if we know or have reasonable grounds to suspect that the claim does not have a good arguable basis, and or is fraudulent or frivolous.