Founded in 2010 financial advisers J. Richfield Ltd, who also traded as Sovereign Financial Services, lost their FCA authorisation in 2017, with the Financial Conduct Authority telling them “not to undertake UCIS activities”.
During this time and before they went into liquidation in May 2017, they had advised some clients to invest in high-risk investment schemes such as, Carbon Credits and Cadnam Plot – a land banking scheme situated near the New Forest.
UCIS – Unregulated Collective Investment Schemes – are types of investments, often referred to as a pooled investments, in which several people may contribute to the asset. Being unregulated means there’s no protection from the FSCS or Ombudsman.
These types of investments are usually only considered suitable for;
A huge part of the pension mis-selling scandal that has occurred in recent years has been down to people receiving poor financial advice to transfer their pension into SIPPs which contain high-risk investments, that were not suitable to their circumstances.
If the person or company who carries out the advice is regulated; even if the investment is unregulated, you may be able to make a complaint and get compensation.
If you are worried about the advice you received from Sovereign Financial Services or any other financial adviser and would like to know about mis-selling and making a claim, you can call 0114 2664216 and talk to one of our experienced claim assessors. Or fill in the enquiry form to arrange a free call back assessment. We can check the details of the advice you received and tell you if we think you may have a case. There’s no obligation to use our service – you can make a claim yourself.
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.