Sovereign Financial Services

If you received advice from Sovereign Financial Services you may want to check if you should be claiming compensation for mis-selling

Founded in 2010 financial advisers J. Richfield Ltd also traded as Sovereign Financial Services. In 2017 they lost their authorisation with the Financial Conduct Authority, who told them to “not to undertake UCIS activities”.

What are UCIS?

Unregulated Collective Investment Schemes (UCIS) are types of investments, often referred to as a pooled investment, in which several people may contribute to the asset. Being unregulated means there’s no protection for investors from the FSCS or Ombudsman should things go wrong 

These types of investments are generally only considered suitable for:

  • High net worth investors
  • Sophisticated investors

High-risk investments 

Before they went into liquidation in May 2017they had advised some clients to invest in high-risk investment schemes. These included Carbon Credits and Cadnam Plot which was a land banking scheme situated near the New Forest.

What is pension mis-selling?

A major part of the pension mis-selling scandal that has occurred in recent years has been down to poor financial advice.  Often involving people transferring their pension into SIPPs which contain high-risk investments, that were not suitable to their circumstances.

Would you like to know more about pension mis-selling?

If you are concerned that the advice you received regarding your pension may mean you’ve been mis-sold – we may be able to help. We offer a free no obligation consultation. 

This is basically a call to briefly discuss the circumstances and parties involved with your pension transfer. From this information we can tell you if we think you may have a case to complain and ask for compensation. Then it’s up to you – no obligation to use our service.

Key Facts

1
Advised people to transfer their pensions into SIPPs which had unsuitable investments
2
These investments include Cadnam Plot and Carbon Credits
3
No longer trading but claims may still be made for mis-sold pension advice

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.

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.