Strategic Wealth UK Ltd provided advice services on products such pensions and transfers.
Established in 2008 as Gibro Wealth Ltd, they became known as Strategic Wealth in 2013.
FCA restrictions were placed on Strategic Wealth UK Ltd in 2016. The firm was told to “Immediately cease all pensions business and pension related business… until such time as a Skilled Person appointed”
They were also ordered not to “..dispose of deal with or diminish the value of any of its assets without the prior consent of the FCA”
This also applied to their Appointed representative Synergy Wealth Ltd.
In December 2017 Strategic Wealth UK Ltd were told to Immediately cease all regulated activity.
Strategic Wealth UK partnered with specialist offshore advisers based in Gibraltar to provide QROPS services.
QROPs schemes are designed for people who are wishing to retire abroad and want to take their pension with them. They have been abused by financial advisers who have negligently used them as a vehicle to sell high-risk investments rather than the intended purpose.
It can be difficult to claim for mis-sold QROPS advice. The advice you received must be proven to be from a UK regulated firm or individual.
Strategic Wealth UK Ltd are currently in liquidation and were declared in default by the FSCS in April 2018.
The FSCS usually does this when they are satisfied there are protected claims against the firm which they would not be able to pay.
FSCS Claims brought by Strategic Wealth customers for mis-sold advice are currently being investigated relating to the Optimus Retirement Scheme.
There is a lack of evidence to suggest the advice clients received came from Strategic Wealth UK Limited. The FSCS said in an update earlier this year that…
“.. it appears to have been provided by SW being the Gibraltar-based entity and therefore outside the FSCS’ jurisdiction to protect claims.”
However, despite this the FSCS also stated they will consider claims from any customers of Strategic Wealth UK Ltd who feel they have received negligent pension advice to transfer into the Optimus Retirement Scheme.
If you are worried you have been affected by pension mis-selling – we may be able to help.
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.
We offer a free initial assessment to see if you may have been mis-sold. It’s simply a brief chat with one of our trained assessors.
Our assessment is free and there’s absolutely no obligation to use our service if you have case.
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.