Mr B - InvestUS Income Strategy and Cherish Wealth

Mr B was advised by Cherish Wealth Management (Appointed Representatives of Shah Wealth Management) in 2015 to make a direct cash investment into The InvestUS Income Strategy Loan.

After realising the investment was in trouble Mr B submitted a claim directly to the FSCS in 2017. This was against Shah Wealth Management for poor advice to invest in the unsuitable investment in The Income Strategy.

The FSCS duly rejected Mr B’s claim. They stated Loan agreements are not regulated and are direct property investments which the FSCS do not protect when bought with cash even on receipt of Financial Advice.

We did not agree and pursued the case on our client’s behalf. we obtained information from all relevant 3rd parties and carried our investigations which evidenced all the material facts to support Mr B’s original claim.

Pension claim submitted an appeal on behalf of our client raising questions in relation to the investment and their categorisation of the fund deeming it impermissible for them to assess.

The FSCS subsequently rejected the appeal standing by their initial reasonings for rejection.

In order to assist us in such a complex case where no Claims Management Firm or Solicitors had been successful in obtaining a positive outcome for their clients. We appointed a barrister (at no cost to our client) and obtained their opinion on our own arguments against the FSCS’ reasoning behind their rejection of this case.

The Barrister strongly agreed with our arguments against the FSCS. They assisted us in instigating a proposed Judicial Review of the case due to our firm opinion that the FSCS were incorrect in their decision surrounding the nature of the investment.

Due to our firms’ beliefs in fighting claims where others may falter and our endeavors in challenging the FSCS, the FSCS sought legal advice.

Thanks to Pension Claim Consulting in August 2020 the FSCS reversed their opinion of The InvestUS Income Strategy Loan changing their rules of the fund to a ‘designated investment’ which are covered by the FSCS. Meaning all claims of a similar nature (even those previously rejected) can now be upheld by the FSCS.

As a result, Mr. B received £19,047.57 in compensation.

 

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Key Facts

1
PARTIES INVOLVED Cherish Wealth Management / Shah Wealth Management
2
INVESTMENT InvestUS Income Strategy Loan
3
COMPENSATION AWARDED £19,047.57

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Robert Pemberton
2022-04-11
Antony Stroud
2022-04-08
Excellent company, would definitely use again, they never gave up
Junior Geener
2022-03-20
always kept you informed has to what was going on .I'd recommend pension claim to anybody
Ian Gaynor
2022-03-14
A thoroughly positive result and experience. In all honesty I didn't have much hope of any success following a truly dodgy pension investment. I spent years angry at myself then decided to let these guys have a go on my behalf. It took hardy any effort on my part and they kept me fully informed, then out of the blue I got a call saying they have won all my pension back plus more and within days it hit my account. Thrilled with their effort and professionalism. I dealt with a few different staff and all were informative, polite and helpful. I great end to a terrible situation. 100% genuine review and I cannot recommend them enough. Thank you.
Grace Anderson
2022-03-11
Pension Claim Consulting were a Godsend. I was told about them by a friend who had also invested in a pension. They kept me informed on the progress of my claim with regular updates and answered my queries with patience and professionalism. There percentage for on behalf was also lower than expected. I can't thank them enough
adrian buck
2022-03-10
Keith Wilkins
2022-03-09
Very thorough and achieved the goal regarding compensation in full. Took a while but was worth the wait
Mark Holmes
2022-03-08
Excellent service. Great result.
michael dixon
2022-03-08
I was approached by Pension Claim Consulting after the company that was handle ing my SIPP had been investigated by the Financial Ombudsmen and informed me i had a case, with this information given to me i agreed to let them represent me in trying to reclaim my investment. All through the process i was informed of every step and on a regular basis even though it took many months the outcome was successful and i was reimbursed fully. This is a fantastic company to work with and dedicated staff who know their business. Many Thanks. Mike Dixon.
Roderick Turnbull
2022-03-08
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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.